EPF, Module 6: Micro/Macro/Fiscal Policy

Open Ended

Now that you've had the chance to review you exam grades, how do you feel you did? What would you like to do differently for the next exam?

Fill in the Blank

Fill in the blank: Money is a "___ of exchange" allowing people to trade a form of payment for a good or service.

Multiple Choice

According to Investopedia, what is the primary function of money?

• A store of value

• A medium of exchange

• A measure of wealth

• A source of debt

Open Ended

How has the history of money evolved over time?

Multiple Select

Which of the following statements are true about the concept of money as described in the lesson?

• Money is only valuable if backed by gold.

• Money can represent time spent earning it.

• Money is always a physical object.

• Money can be exchanged for goods or services.

Multiple Choice

How is the value of money determined according to both the simple and complex views presented?

• By the amount of gold backing it

• By government decree

• By time spent earning it and willingness to exchange for goods/services

• By the number of people using it

Open Ended

What are some factors that can influence the value of money over time?

Multiple Choice

Which of the following are considered world currencies?

• Dollar, Pound, Euro, Yuan, Ruble

• Dollar, Peso, Rupee, Yen, Franc

• Dollar, Pound, Franc, Lira, Yen

• Dollar, Peso, Euro, Rupee, Ruble

Open Ended

How can inflation affect the purchasing power of money within a country?

Multiple Choice

What is currency and how does its value change both domestically and internationally?

• Currency is a type of loan; its value changes with interest rates.

• Currency is money exchanged for goods and services; its value changes due to inflation and exchange rates.

• Currency is a form of tax; its value changes with government policy.

• Currency is a commodity; its value changes with supply and demand.

Open Ended

In review of yesterday's lesson, relate your reading today to some aspect of currency or value. Provide a quick summary before discussing the connection.

Fill in the Blank

Any data that provides information on the current and future economic health of a society is called an economic ___.

Multiple Choice

Which of the following is NOT listed as a key economic indicator in the image?

• Gross Domestic Product (GDP)

• Consumer Price Index (CPI)

• Stock Market Index (SMI)

• National Debt

Open Ended

Explain the significance of Gross Domestic Product (GDP) as an economic indicator.

Multiple Select

Which of the following are components included in the calculation of GDP?

• Consumer spending

• Business investment

• Government spending

• Imports

Open Ended

What does the Consumer Price Index (CPI) measure and why is it important for understanding economic conditions?

Multiple Choice

Which of the following websites would you use to find out how the Consumer Price Index (CPI) is measured and calculated?

• 12 Month Inflation Change (CPI)

• Inflation Calculator

• Unemployment Rate Data

• Federal Reserve Interest Rates

Open Ended

Why does the value of money not stay the same over time?

Multiple Choice

Which of the following statements best describes inflation?

• It measures the increase in the price of goods and services over time.

• It measures the decrease in the value of money only.

• It is the process of printing more money.

• It is the reduction in the number of goods produced.

Open Ended

What is the current unemployment rate of the United States? What is the highest the unemployment rate has ever been in the U.S.?

Open Ended

Explain the significance of the National Debt. Does it matter? Why or why not? Feel free to take a second to research

Open Ended

In at least one paragraph, summarize your understanding of the national debt according to the previous video

Open Ended

Who does the government borrow money from? How does the govt. borrow money?

Open Ended

In your own words, how is the federal budget created?

Multiple Select

Where does the government obtain its revenue? (Select all that apply.)

• Individual income taxes

• Graft/Corruption

• Payroll taxes

• Corporate income taxes

Open Ended

What did the U.S. spend the most money on in 2023? What does the United States' spending say about its values as a country?

Open Ended

Reading log: provide a brief overview of what you had the chance to read from your text this week. What was particularly striking, or what is something that stood out to you?

Open Ended

Why do different businesses (like Starbucks, Netflix, or your local corner store) succeed using different models?

Open Ended

In three minutes, compare and contrast a sole proprietorship and a partnership.

Open Ended

What is one striking thing you noticed about the previous graphic? What is one thing it makes you wonder?

Open Ended

In one sentence, summarize the previous video.

Multiple Choice

Which of the following is an example of a Franchise?

• REI

• McDonald's

• Pepsi

• Best Western

Open Ended

How can having an understanding of different business models help you as a consumer? If you are interested in being a business owner, what did you take away from the lesson?

Multiple Choice

Which of the following topics is NOT listed as part of Module 6?

• Currency

• Businesses

• Shark Tank

• Inflation

Open Ended

Reflecting on Module 6, what aspect of macro, micro, or fiscal policy would you like to learn more about or discuss further?