In Class: Review Questions of Chap. 20 Sec. 1. The Great Depression/Dust Bowl discussion.
Bell work: What is the difference between a recession and a depression?
In Class Review Assessment Chapter 20 Section 1: Multiple Choice For each of
the following, write the letter of the best choice in the space provided.
____ 1. The
economy goes from good times to bad and then back to good again in the
a. growth cycle.
b. business cycle.
c. production
cycle.
d. economic cycle.
____ 2. The
rise in cost of goods and services is called
a. recession.
b. expansion.
c. inflation.
d. depression.
____ 3. Wages, payments
for raw materials, transportation, rent, and interest on money borrowed are the
a. costs of
production.
b. problems of big
business.
c. channels of
distribution.
d. causes of
recession.
____ 4. When the
expansion of the economy and the inflation that goes with it stop, the business
cycle has reached a(n)
a. epic
proportion.
b. recession.
c. expansion.
d. peak.
____ 5. The opposite of expansion is called
a. revision.
b. contraction.
c. extension.
d. augmentation.
____ 6. If the economic
contraction becomes severe enough, the economy may enter a(n)
a. growth period.
b. peak period.
c. expansion.
d. recession.
____ 7. When the
economy reaches its lowest point, it is said to be in a(n)
a. trough.
b. gutter.
c. bad shape.
d. contraction.
____ 8. Which term is used to
describe the worst economic times when many people lose their jobs and numerous
businesses close?
a. recession
b. expansion
c. depression
d. trough
____ 9. Which president created the program known as
the New Deal?
a. Abraham Lincoln
b. Franklin
D. Roosevelt
c. Woodrow Wilson
d. Theodore
Roosevelt
____ 10. Which program(s) were part of the New Deal?
a. FDIC
b. Social Security
c. SEC
d. all of the
above
Chapter 20 Section 2 Handout for Homework
TRUE/FALSE Read the FALSE statements below. On the line provided, replace the underlined word with a term to make the statement TRUE.
1. With deflation, prices increase faster than wages, and people cannot buy as much with their money.
____________________________________________________________
2. Some economists believe that a major cause of inflation is the circulation of too much mail.
____________________________________________________________
3. Much of the money spent by the federal government comes from stocks.
____________________________________________________________
4. The federal government can change its investment policy, or its policy of taxing and spending, to aid an ailing economy.
____________________________________________________________
5. The Securities and Exchange Commission handles the federal monetary policy.
____________________________________________________________
6. Consumers can help the economy by increasing traveling.
____________________________________________________________
Mr. Moore
CEP Instructions Reminder:
Current Event Paragraph
- Must
be typed. Double spaced. 12 pt. font.
- The
source of your news must be listed in the heading. Example: www.foxnews.com
- List
and answer these questions on your paper and use the answers to write your
summary paragraph; who, what, when, where, how, why.
- Write
your summary paragraph.
- Due
every Friday.
Acceptable sources:
- Newspaper
(available classroom)
- www.foxnews.com
- www.abcnews.go.com
- www.cbsnews.com
- www.nbcnews.com
- www.pbs.org/newshour/
- www.cnn.com
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