19/01/16
Chapter 9: Keeping Score
Pages 191-217
To receive full credit, please reference the text in your answers.
1. Briefly discuss the “knocks” against using GDP as an indicator.
2. Define the human development index and list where America ranks.
3. What happens when GDP turns negative?
4. Why do we never want to see negative GDP numbers? What do they stem from?
5. How do falling stock market values contribute to recessions?
6. Summarize the “intriguing paradox” the author talks about on page 202.
7. How can a recession become global?
8. Discuss the two tools governments can use to help “fix” the economy during a recession and briefly summarize and give examples of each.
9. Summarize Okun’s Law.
10. Why have poverty rates fallen for the elderly?
11. Discuss how we measure income inequality and what has happened with this indicator in the U.S.
12. Compare the size of U.S. government to that of other nations.
13. Differentiate between a budget deficit and a surplus. Ideally how would these be managed?
14. Discuss what has happened to the national saving rate.
15. Why is it not necessarily a good thing that Americans are living longer?
To receive full credit, please reference the text in your answers.
1. Briefly discuss the “knocks” against using GDP as an indicator.
2. Define the human development index and list where America ranks.
3. What happens when GDP turns negative?
4. Why do we never want to see negative GDP numbers? What do they stem from?
5. How do falling stock market values contribute to recessions?
6. Summarize the “intriguing paradox” the author talks about on page 202.
7. How can a recession become global?
8. Discuss the two tools governments can use to help “fix” the economy during a recession and briefly summarize and give examples of each.
9. Summarize Okun’s Law.
10. Why have poverty rates fallen for the elderly?
11. Discuss how we measure income inequality and what has happened with this indicator in the U.S.
12. Compare the size of U.S. government to that of other nations.
13. Differentiate between a budget deficit and a surplus. Ideally how would these be managed?
14. Discuss what has happened to the national saving rate.
15. Why is it not necessarily a good thing that Americans are living longer?