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What will we learn today?What will we learn today?12.4.1 Labor unions, procedures, benefits for their members, effects of unionizations, the minimum wages, and unemployment insurance.12.4.4 Explain the effects of international mobility of capital and labor on the U.S. economy.12.5.2 Significance of unemployment rate, new jobs created monthly, inflation and deflation, and rate of economic growth.

Unit: Hectic JanuaryUnit: Hectic JanuaryDay 1Day 1

Give me your completed song projects if you have them today. You need lyrics and song or video.

Otherwise, projects are due on Tuesday, January 19.

Again, if you didn’t do the Econ Song, you can’t do any extra credit anymore. You’ve been cut off.

Super Notes Quiz #3

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1. How could the Federal Reserve encourage banks to lend out more of their reserves?a. reduce the discount rateb. increase the prime ratec. raise the required amount of

reserved. reduce the money supply

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2. In recent years, many countries have formed customs unions that abolished tariffs and trade restrictions among its members, as well as adopted uniform tariffs for nonmember countries. A successful example of such a customs union isa. the European Union (EU).b. the North Atlantic Free Trade

Agreement (NAFTA).c. the Asia-Pacific Economic

Cooperation (APEC).d. the World Trade Organization (WTO).

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3. Why does the Federal Reserve alter monetary policy?a. to regulate the banking industry

b. to provide services to member banks

c. to enable banks to clear checks

d. to lessen the effect of natural business cycles

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4. The purpose of expansionary fiscal policy is toa. increase output.b. prevent hyperinflation.c. slow the growth of the GDP.

d. increase the separation between government and private industry.

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5. An example of contractionary fiscal policy would bea. cutting taxes.b. decreasing government

spending.c. increasing production of

consumer goods.d. expanding the government’s role

in regulating private industry.

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6. An example of expansionary fiscal policy would bea. cutting taxes.b. cutting government spending.

c. cutting production of consumer goods.

d. cutting prices of consumer goods.

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7. What type of policy does the Fed use to counteract a contraction?a. fiscal policyb. easy money policyc. tight money policyd. policy lags

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8. What is the relationship between interest rates and demand for money?a. As interest rates decrease, demand

for money increases.b. As interest rates increase, demand

for money increases.c. Interest rates are determined by

demand for money.d. Interest rates and demand for money

are unrelated.10

9. Which of the following is a treaty to eliminate all trade barriers between Canada, Mexico, and the United States?a. APECb. CARICOMc. MERCOSURd. NAFTA

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What Mr. Rob Will Need:Song lyrics with vocab underlinedSong emailed or brought in on a USB or

DVD. Be organized. Bring a backup.

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A Good Econ Song:Uses at least ten vocab words from your

chapter appropriately, showing that you know what they mean when you use them.

Teaches the main concepts of your chapter Uses a visual (music video, poster, dance,

whatever)Is long enough / loud enough / clear enoughCannot be inappropriate

Econ Song Rubric100 points total

Teaching Factor: 60 points- Vocabulary use (at least 10 words, used showing that you know what they

mean for an A)- Do the lyrics make sense and relate to the chapter? Did you really teach

your peers? (warning: don’t just relate to the title of your chapter)- Does it seem like you read and understood your chapter?

Entertainment / Performance Factor: 25 points- Song choice and rhythm / lyrics- Visual to accompany the song (video, poster, live dance, etc.)- How was your song received by the class / teacher?

Other Factors: 15 points- Long enough to teach the entire chapter?- Is the audio clear and loud enough?

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Required:Lyrics typed up withvocab underlined.