1. AP ECONOMICS: February 26
Conclude discussing Worksheet 19.1 (HO from earlier)
A.P. Economics Learning Target In order to understand how public policy can impact the economy’s output, price level, and level of unemployment, I will analyze the impact of fiscal policy on AD. I will know I have it when I can: (1) list and explain the fiscal policy tools (taxation, transfer payments, and government spending); (2) show the impact of fiscal policy in the LRAS-AD-AS Model; (3) determine fiscal policy (if any) needed to address economic scenarios; and (4) analyze the impact of fiscal policy on the federal budget and the national debt. --Closing the gaps using AD-side fiscal policy (see Key Concepts HO)
-recessionary and inflationary gaps—appropriate fiscal policy? -Act. 5-1 (HO): ·basic tools (to include transfer payments) ·deficit vs. debt terminology and calculations; debt financing; implications?
-policy dilemma from stagflation
Assignment Make sure you have completed all Unit 3 Google Classroom assignments
Quiz over fiscal policy, long-run equilibrium & gaps on Thursday