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Name __________________________ 3 6
How long did President Clinton say wed have a balanced budget?
Chapter 2: ______________________________________________________
20.Whats the idea behind the Saturday Night Live Skit?
21.What are 2 things the American people are doing that directly reflects the
bad behavior of the American government?
22.Why is it important that people save?
23.How does Ron Paul explain inflation?
24.What is monetary policy? Who controls it?
25.What is fiscal policy? Who controls it?
26.What are the goals of the Federal Reserve Board?
27.What happens when you have a stagnant economy + inflation?
28.Where were interest rates in the 1970s?
29.What was the state of the economy in April 2008?
30.What happened to interest rates under Greenspan? Under Bernanke?
Chapter 3: _______________________________________________
31.What IS the trade deficit?
32.What is the point of Squanderville vs. Thriftville?
33.What is pseudo-trade according to Warren Buffett?
34.What are our top 5 trade deficits?
35.How does the federal government borrow money?
36.How much does the Chinese couple earn? How much do they save?
37.How long did it take to get to $1 trillion in debt? What happened under GW
Bush?
38.How does the debt affect foreign policy?
Chapter 4: _____________________________________________
2004?