Some questions to answer for review for HW:
What is the Fed and what does it do? (2 pts)
What are the benefits that come with a society having full employment? (3 pts)
Describe the effects of the following on a society/economy (1 pt each):
The Congress raises taxes.
The Congress lowers taxes.
The Fed lowers the discount rate.
The Fed increases the reserve requirement
Draw a chart or diagram to compare the beliefs of Democrats and those of the Republicans when it comes to the economy. (3 pts)
In what ways does our country not have a true market economy? (3 pts)
You must answer all these questions. Please ask me if you need help. There is not excuse for not having all correct answers if you don't ask me for help.
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