Ch. 16 Exam

Ch. 16 Jeopardy

Ch. 16 Section 3 Notes
Take notes on slides that pertain to section 3.

Questions:
Page 429 #1-7

If you missed class Friday take Cornell Notes on chapter 16 section 2 or get notes from another student in class.

Chapter Tour- Chapter 16

Read all of the titles in each section and predict what each section will talk about.  You don't have to read the sections, just the titles in Green and Red

Tax Project

Presentations Monday!

Tax Project

Tax Project

Tax Project

Finished Tax Exams

Tax Jeopardy

Tax review questions

1. What type of tax does the Federal government get most of their money from?  What about State government? What about Local government?

2. What is an excise tax?

3. What is cyclical unemployment?  Give an example.

4. What is seasonal unemployment?  Give an example.

5. What is a progressive tax mean? Who does it impact the most?

6.  What are the four characteristics of a good tax?  Explain the meaning of each.

7. What is a customs tax? Is it progressive?

8. What is structural unemployment?  Give an example.

9. What is a regressive tax? What types of taxes are regressive?

10. What are the characteristics of an expansion period?

11. What are the characteristics of a contraction period?

12. When does cyclical unemployment take place?

13. How do frictional and structural unemployment differ?

14. What are the 3 main indicators of the economy?

15. What is Gross Domestic Product?

16.  Explain how proportional taxes work.

17. What form do you fill out when you get a job?  How is the form used?

18. What is a W2?

19. Why do you fill out a 1040?

20. What is pay-as-you-earn taxation?

Unemployment DBQ

Prezi on Unemployment: http://prezi.com/3zgtoinox-mf/copy-of-eco-chapter-13-section-1/

Business Cycles Notes: https://docs.google.com/file/d/0B_gpVfHfuRG2dVVfOUdqTTUxNmc/edit?usp=drive_web

Chapter 12 Section 2

1.  What are the 4 phases to a business cycle? Draw a pictorial representation of a business cycle.

2.  What are the contributing factors to each phase regarding GDP?

3.  What is stagflation?  Why is it a problem when an economy experiences it?

4.  What are the 4 main economic variables that affect business cycles?

5.  How can interest rates push a business cycle into a contraction?

6.  How did the Great Depression affect economists’ beliefs about the macroeconomy?

7.  At what point of the business cycle would you want to be?  In 1-2 sentences explain your reasoning.

 

Today we discussed/showed what the W2, W4,  and 1040EZ forms are.

Complete the Tax Tables Assignments
Tables: https://docs.google.com/file/d/0B_gpVfHfuRG2VHVyaXVqdzdFQ00/edit?usp=drive_web
Questions: https://docs.google.com/file/d/0B_gpVfHfuRG2WFBsajJVRHBuM1k/edit?usp=drive_web

14.2 Questions

1. Why do employers withhold a set amount of your income?
2. What is taxable income?
3. What does Social Security provide?
4. What is Medicare?
5. What items are taxed for the purpose of changing behavior?
6. Explain pay-as-you-earn taxation.
7. What is the purpose of FICA?
8. Describe withholding and explain how it would affect someone with a part-time job.
9. How much of the federal government’s income comes from individual income tax?

10. What is the difference between an estate tax and a gift tax?

14.2 Notes: https://docs.google.com/file/d/0B_gpVfHfuRG2cnFiVWItMWQxRGs/edit

Pay Stub: https://drive.google.com/file/d/0B_gpVfHfuRG2QzBIQ0E5eDEwaUU/edit?usp=sharing

Questions: https://drive.google.com/file/d/0B_gpVfHfuRG2bEZBR3dPRGRhUEU/edit?usp=sharing

Where your tax dollars go pie chart: http://money.cnn.com/2014/04/11/pf/taxes/how-federal-income-taxes-are-spent/index.html?hpt=hp_t3

Tax Questions: https://drive.google.com/file/d/0B_gpVfHfuRG2M0M0T2dOaDJGb3c/edit?usp=sharing

Tic Tac Taxes Worksheet: https://drive.google.com/file/d/0B_gpVfHfuRG2Ml9NcVdRVDdlX1U/edit?usp=sharing

Chapter 14 Section 1 Questions

1. List 10 things that are taxed.  Label each as being either Income, Sales, or Property
2. Why do governments impose taxes?
3. What are the four characteristics of a good tax?  Explain the meaning of each.
4. What is the difference between a progressive tax and a regressive tax?
5. Describe the benefits-received principle.  How does it differ from the ability-to-pay principle?
6. Could we thrive in a society where taxes aren’t taken?  Where they are optional?  Explain.
7. Explain the impact of the power to tax as expressed in the Constitution on tax policies today?
8. Salem has decided to levy a tax to raise money for construction, road maintenance, and other expenses for schools.  Should the tax they impose be proportional, progressive, or regressive?  Explain your answer.

Intro To Taxes Notes:https://drive.google.com/file/d/0B_gpVfHfuRG2RFZwUWlSZ0FxTzQ/edit?usp=sharing

Finished the Supply/Demand Exam

Supply/Demand Exam
Notebook Check Today!

Supply and Demand Jeopardy: https://drive.google.com/file/d/0B_gpVfHfuRG2YmVkSEJkNzFFVG8/edit?usp=sharing

TEST AND NOTEBOOK CHECK MONDAY!!!!!!

Big Apple Questions

1.  What is the price the apples are most frequently sold at in Round 3?

2.  In which round was there the greatest spread in price?

3.  Why did prices become more concentrated?

4.  Why did high profit takers have success?

5.  When half the sellers left the market, what changes did you experience?

6.  In Round 4 did prices go up?  If so, why?

7.  Can you relate the price changes in Round 4 to conditions in the national economy?

8.  What problems did you run into buying or selling?

9.  List 1 strategy that you employed to negotiate your prices.   Did your strategy work? Why or why not?

10. Based on your experiences in this game, explain the importance of supply and demand as a function of our society?

Exam Monday and Notebook check Monday

Unit 3 Notebook check
1. Demand Notes
2. Supply Notes
3. Supply Changes WS
4. 6.1 Questions
5. Elasticity Q's
6. Big Apple

Finished Big Apple Game

Graphing and questions tomorrow

Big Apple Game: See me for any makeup.  We are playing the game in class and will have questions/graphing when the game is completed.

Presented Rap Songs

HW:
PP. 98-99 #1-7, 10, 12
PP. 122-123 # 1-7, 11, 13

Supply/Demand Rap Song

Make a (school appropriate) rap song about supply and demand.
The song must be 20 lines long
It must rhyme.

You don't have to rap it to the class, HOWEVER, if you want 10 pts extra credit you can rap it to the class.

Elasticity Questions: https://docs.google.com/file/d/0B_gpVfHfuRG2TE9qcjZEaXY4LWs/edit?usp=drive_web

See Page 92 for examples on how to calculate elasticity

Today we took a quiz.  If you missed class today you need to see me upon return and take the quiz.

Notes on Elasticity:  Read pages 90-93(top half of 93) in your text and take Cornell Notes on Elasticity.  Pay special attention to page 92 as that page shows the formulas to calculate elasticity.

Equilibrium Notes- https://docs.google.com/file/d/0B_gpVfHfuRG2Z243aXR1ZXZyNVU/edit?usp=drive_web

Chapter 6 Section 1 Questions

1.     What is unique about an equilibrium price?

2.     What situation can lead to excess demand?

3.     What situation can lead to excess supply?

4.     How is a price floor different from a price ceiling? Give examples of each.

5.     How does rent control work?

6.     What are the benefits and drawbacks of a price ceiling?

7.     According to figure 6.2 on page 127, why are sales lower at $1.00 a slice than at $2.00 a slice?

8.     What are the benefits and drawbacks of a price floor?

9.     Turn to the graph of median weekly earnings on page 536 in the Databank.  Suppose that the federal government has raised the minimum wage to $600 per week.  (a) Which category of jobs would be least affected by the change? (b) Which two categories would be most affected by the new minimum wage? (c) What are the likely consequences for workers in these two fields?

Read the following pages and take notes (Shifts of a Demand and Supply Curve)  Make sure you understand the difference in each curve and how to graph a change in Supply/Demand.  Show on your notes the explanation of how to graph a change in Supply/Demand as well as a graphic example of both and increase/decrease in Supply/Demand

P 85-86- Demand Shifts
P 117- Supply Shifts

Supply Shifts Worksheet

Demand Shifts Worksheet

Supply Notes:https://docs.google.com/file/d/0B_gpVfHfuRG2RWlEdi1pemN1U0E/edit?usp=drive_web

Supply and Demand Concept Map-  See the example link below and make a Concept Map for both supply and demand

Concept Map

Netflix Demand DBQ

Demand Notes: https://docs.google.com/file/d/0B_gpVfHfuRG2bS1XbnNNVjdBZlE/edit?usp=drive_web

Exam today and Notebook check

Ch. 11 Jeopardy- https://docs.google.com/file/d/0B_gpVfHfuRG2aHBYRE5xa1p5MFk/edit?usp=sharing

Things to know for the exam

Be able to write about:
Financial Intermediaries
Why investing is important to our economy
Types of Bonds
Why diversification is important

Go through all of the key terms in chapter 11 and make sure you know them.
Lastly, look over the Jeopardy Power Point as all of those questions will be used on the exam

Today we conducted a Socratic Seminar.  If you missed class you need to write a 1/2 page paper on the importance of investing.

Saving/Investing Notes Cornell: https://docs.google.com/open?id=0B_gpVfHfuRG2d1pLekVUMl8zQ2c

Socratic Seminar tomorrow.

Why is investing important to an economy?

Per 3.
Notes on Bonds: https://docs.google.com/file/d/0B_gpVfHfuRG2MW9jWUhybjlpSWM/edit?usp=sharing

Per 6.
Stock Project (DUE MONDAY)

3rd Period:

Annotate Timeline

Create a Timeline of The Great Crash.  Read pp 290-291 for dates and events related to The Great Crash.  Explain significances and dates from this period of time.  Think about what the important concepts, ideas, events, people and places are and include in your timeline.  Be creative by using charts, drawings or illustrations.   

6th Period:
Stock Project in the computer lab

3rd Period: Last day in the lab to work on Stock Project.  Paper DUE FRIDAY!!!

6th Period:  We started the Stock Project today.  Look at Monday's blog for directions if you missed class.  We will be in the lab Thursday and Friday.
Paper DUE MONDAY for 6th period!

Period 6:
Notes on Bonds: https://docs.google.com/file/d/0B_gpVfHfuRG2MW9jWUhybjlpSWM/edit?usp=sharing

Investing Graphic Organizer: Make a graphic organizer with Investing as the center piece.  You are not characterizing each type of investment, you are only listing all the different types of investments that we covered.


Period 3: Continued Stock Project
www.marketwatch.com
Game: cash3rd
Password: cashecon3rd

3RD PERIOD:
Today we introduced the stock project.  Paper is due Thursday.

Stock Project: https://docs.google.com/file/d/0B_gpVfHfuRG2bGphbm52eVpsT2M/edit?usp=sharing

Weekly Stock Update Sheet: https://docs.google.com/file/d/0B_gpVfHfuRG2Z3ZiRko4eDg4dVk/edit?usp=sharing

6TH PERIOD:
We will begin our stock project on Wednesday.  Today we did an annotated timeleine:

Annotated Timeline

Create a Timeline of The Great Crash.  Read pp 290-291 for dates and events related to The Great Crash.  Explain significances and dates from this period of time.  Think about what the important concepts, ideas, events, people and places are and include in your timeline.  Be creative by using charts, drawings or illustrations.  

Take notes on the following terms from chapter 11 section 3:
shares
stockbroker
stock exchange
bull market
bear market
The Dow
S&P 500
Great Crash

Chapter 11 Section 3 Questions

Chapter 11 Tour: Within chapter 11 read the following and write down what you think you know about it just by reading the heading.  (Do not read the chapter, only the headings)
Chapter Title
Subtitles (Anything in Red)
Photographs or Illustrations
Charts or Graphs
Vocabulary Words
Timelines.

Skim through the chapter and find all of the above mentioned if they are there.  Write out what you know (or think you know) about the topic.  Don't be afraid to be wrong, do your best.

Unit 1 Exam today.

Unit 1 Notebook Check Today!

Factory Research Paper Due Today!!!

Unit 1 Review
P. 20-21 #1-21
P. 46-47 #1-6, 9-1, 13-14

Exam Tomorrow!

Notebook Check Tomorrow
1. Concept Map
2. Visual Vocab
3. Economies Questions
4. Unit 1 Review

Continued Factory Paper

Due Monday!

Where to build a factory research paper Due Monday!!!

Paper: https://docs.google.com/file/d/0B_gpVfHfuRG2VXhzekpnX2hpOHM/edit

Today we conducted at Tableau.

We also worked on a worksheet below

 Economic Systems Scenarios

Economies Questions

#1: https://drive.google.com/file/d/0B_gpVfHfuRG2ZE1KLS0zRllGTHc/edit?usp=sharing

#2 List each of the 4 types of economies
for each type do the following:
1. list characteristics that it possesses
2. Give some reasons why this type of economy works
3. How could you benefit from this type of economy?

Presented inventions today

Finish Invention Activity

Be prepared to present on Thursday!

INVENTION ACTIVITY

    Invent something that you think could make money.

    Invent a completely new product/service Or Improve a current product/service.
    YOUR PRODUCT MUST BE REALISTIC (not technology that does not yet exist)

1.    Explain your invention and how it works.

2.    Provide a poster (8 ½ X 11) that shows your product/service.

3.    Who is the product intended for? Why?

(Males? Age group?, Middle class?)

4.    Identify what is needed to make the product

-Land: materials in the product

-Labor: types of jobs employees will do

-Capital: tools/machines that are needed

DUE THURSDAY!!!!

Question of the Day:  What is the difference between a want and a need? Answer this in your notebook.

Visual Vocabulary Example- Visual Vocabulary

Choose 6 words to complete a Visual Vocab with on page 20 of text.

Take a look at the 20 things that go into a product from Friday.  Next to each item, label the item as being either Land, Labor, or Capital.

Think of a product you use. Make a list of 20 things that go into the production of that product

Factors of Production Concept Map
Read pp 4-5 to understand Land, Labor, and Capital

Make a concept map for each. See example below
https://docs.google.com/file/d/0B_gpVfHfuRG2WlJPQUhNVUtHYlU/edit

June 10

Economics Final Review Sheet

Key Terms and Ideas

inelastic                       law of demand                       inferior good elastic                  complement    

substitute                     ceteris paribus                          market                                surplus            

Factors of production   shortage                                   bank run                              entrepreneur   

Broker                         Bear Market                            Exempt                                Regressive tax            

FICA                           Bull Market                             Gross Pay                           Net Pay                      

Price of Inputs            Fixed Cost                              Human Capital                     Supply curve  

Demand Curve            Property taxes                         Income Tax                         Sales tax         

Excise Tax                   S&P 500                                  Compliments                      Traditional      

Mixed                          Command                               Social Security                     Types of Bonds

Budgeting- Auto Loan, Mortgage, Rent, Types of Insurance, Spousal Support, Child Support, Utilities

Taxes- tax brackets, evasion, types of taxes, tax forms, and deductions

Money/Banking- Types of money, Loans, FDIC, Mortgage, Checking