1. AP ECONOMICS: March 4
A.P. Economics Learning Target
In order to understand how equilibrium national output and price level are determined, I will analyze the impact of the multiplier effect. I will know I have it when I can: (1) explain how an initial change in spending leads to many additional rounds of spending; (2) calculate the spending and taxation/transfer multipliers; and (3) calculate the amount that the government must change its taxation/transfers or spending to help the economy reach full employment by taking the multiplier effect into account.
--go over FRQs #3 & #4 --Worksheet 21.2 (HO from earlier)
--discuss notebook arrangement (HO)
Reminders --the spending multiplier applies to ALL changes in spending (not just G, but C, Ig, and Xn as well) --fiscal policy is DEMAND-SIDE POLICY (don’t shift the AS or LRAS curves)
Assignment
--Make sure you have completed all of your Unit 3 GC assignments
--MCT #3 Practice Questions (HO)
Wednesday: FRQ #5 (mainly over Key Concepts HO) Thursday: MCT #3
Friday: Notebook turn in