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 6â€“8 (Concepts and what was learned are listed directly below) to answer the four (4) questions using attached template.
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Week 6: Understanding Inflation
Upon completing Week 6, youâ€™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, youâ€™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, youâ€™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.