ACTIVITY 5: Relate Economic Concepts to Current Events.
Please read the instructions carefully and thoroughly. Please…NO PLAGIARISM!
Select an economic concept covered in weeks 6–8 (Concepts and what was learned are listed directly below) to answer the four (4) questions using attached template.
Week 6: Understanding Inflation
Upon completing Week 6, you’ll be able to:
- Describe the role of the Federal Reserve Banking System.
- Apply the concept of inflation to real-world examples.
- Explain monetary policy and economic outcomes.
Week 7: Understanding Tradeoffs
Upon completing Week 7, you’ll be able to:
- Realize economic decisions are made on a daily basis.
- Explain why all decisions require tradeoffs.
- Summarize how decisions are made by individuals, companies, societies, and governments.
Week 8: Considering Opportunity Costs
Upon completing Week 8, you’ll be able to:
- Define the concept of opportunity cost.
- Explain on a macro-level how opportunity costs also apply to government borrowing.
- Summarize how financial markets also make decisions that impact the economy.