Prentice Hall. Foundations of Economics, 3rd Edition (Bade, Parkin) High School. Indiana Academic Standards - Social Studies Economics

Transcription

1 Prentice Hall Foundations of Economics, 3rd Edition (Bade, Parkin) 2007 High School C O R R E L A T E D T O High School

2 Standard 1 - Scarcity and Economic Reasoning Students will understand that productive resources are limited; therefore, people, institutions and governments cannot have all the goods and services they want. As a result, people, institutions and governments must choose some things and give up others. E.1.1 Define each of the productive resources (natural, human, capital) and explain why they are necessary for the production of goods and services. (Geography) SE/TE: 36-41, 42, 43, 53, 54, 165, 57, 58, 59, 62, 296, 300, , 446, , 480, 573 Chapters 2, 18.2; AP Instructors Manual ( ): Chapters 2, 18.2; Study Guide ( ): Chapters 2, 18.2; Test Banks ( , , ): Chapters 2, 18.2 ( ): Chapters 2, 18.2 E.1.2 Explain how consumers and producers confront the condition of scarcity by making choices which involve opportunity costs and tradeoffs. SE/TE: 2, 3, 4, 9, 11, 18, 19, 20, 68-71, 72-78, 81-84, 85-88, , 296, 297, 699, 700 Chapters 3.2, 3.3, 3.4, 6.5; AP Instructors Manual ( ): Chapters 3.2, 3.3, 3.4, 6.5; Study Guide ( ): Chapters 3.2, 3.3, 3.4, 6.5; Test Banks ( , , ): Chapters 3.2, 3.3, 3.4, 6.5 ( ): Chapters 3.2, 3.3, 3.4, 6.5 E.1.3 Explain the important role of the entrepreneur in taking the risk to combine productive resources to produce goods and services. SE/TE: 39, 61, 484 1

3 Chapter 2.1; AP Instructors Manual ( ): Chapter 2.1; Study Guide ( ): Chapter 2.1; Test Banks ( , , ): Chapter 2.1 ( ): Chapter 2.1 E.1.4 Describe how people respond predictably to positive and negative incentives. SE/TE: 4-9, 13, 18-21, 91, , , , 636, 640 Chapters 1.2, 11; AP Instructors Manual ( ): Chapters 1.2, 11; Study Guide ( ): Chapters 1.2, 11; Test Banks ( , , ): Chapters 1.2, 11 ( ): Chapters 1.2, 11 E.1.5 Explain that voluntary exchange occurs when all participating parties expect to gain. SE/TE: 81-84, 85, 90, 315, , Chapters 3.5, 34.2; AP Instructors Manual ( ): Chapters 3.5, 34.2; Study Guide ( ): Chapters 3.5, 34.2; Test Banks ( , , ): Chapters 3.5, 34.2 ( ): Chapters 3.5, 34.2 E.1.6 Compare and contrast how the various economic systems (traditional, market, command, mixed) answer the questions: What to produce? How to produce it? For whom to produce?. SE/TE: 3, 4, 19, 34-42, 57-59, , 167 2

4 Chapters 2.1, 6.1; AP Instructors Manual ( ): Chapters 2.1, 6.1; Study Guide ( ): Chapters 2.1, 6.1; Test Banks ( , , ): Chapters 2.1, 6.1 E.1.7 Describe how clearly defined and enforced property rights are essential to a market economy. (Government) ( ): Chapters 2.1, 6.1 SE/TE: 163, 223, 224, 237, 258, 266, 639, 640, 642, 643 Chapters 9.1, 25.4; AP Instructors Manual ( ): Chapters 9.1, 25.4; Study Guide ( ): Chapters 9.1, 25.4; Test Banks ( , , ): Chapters 9.1, 25.4 ( ): Chapters 9.1, 25.4 E.1.8 Use a production possibilities curve to explain the concepts of choice, scarcity, opportunity cost, tradeoffs, unemployment, productivity and growth. SE/TE: 62-71, 72-81, 82-88, 267, , Chapters 3.1, 3.2, 3.3, 3.4, 34.2; AP Instructors Manual ( ): Chapters 3.1, 3.2, 3.3, 3.4, 34.2; Study Guide ( ): Chapters 3.1, 3.2, 3.3, 3.4, 34.2; Test Banks ( , , ): Chapters 3.1, 3.2, 3.3, 3.4, 34.2 ( ): Chapters 3.1, 3.2, 3.3, 3.4,

5 E.1.9 Diagram and explain a Circular Flow Model of a market economy, showing households and businesses as decision makers, resource and money flows, and the three basic markets product, productive resources and financial markets. SE/TE: 42-48, 57-59, , 519, 520 Chapters 2.2, 20.1; AP Instructors Manual ( ): Chapters 2.2, 20.1; Study Guide ( ): Chapters 2.2, 20.1; Test Banks ( , , ): Chapters 2.2, 20.1 ( ): Chapters 2.2, 20.1 Standard 2 - Supply and Demand Students will understand the role that supply and demand, prices, and profits play in determining production and distribution in a market economy. E.2.1 Define supply and demand. SE/TE: 91-93, 97, , 104, 113, 114, 167, 168, , 176, 178, , 183, 184, 186, , , , 209, , 222, 223, 227, 229, 231, 233, 234, , 271, , 283, , 326, 330, , , 342, , 359, 360, 362, 363, , , , 389, 393, 398, 399, 406, 420, 421, 426, 428, 430, 431, 433, , 450, 451, 454, 455, 457, 458, 461, 463, 464, 480, 481, 485, , 586, , 631, 635, 644, 645, 701, , 709, 710, 716, , , , 754, 776, 777, 788, 789, 795, 798, 802, 817, 835, 839, 841, 842, 845, 847, 863, 864, 871, 873, 875, 876, 887, 899, 900, , 910, 912, 913, 914 Chapter 4; AP Instructors Manual ( ): Chapter 4; Study Guide ( ): Chapter 4; Test Banks ( , , ): Chapter 4 4

6 E.2.2 Identify factors that cause changes in market supply and demand. ( ): Chapter 4 SE/TE: 94-97, , , , 119, , , 209, , , 282, 283, , , , 459, 460, , , , 469, 470, 480, 481, 485, , , 630, 631, 634, 635, 644, 645, 701, 702, , 709, 710, 716, , , , 788, 789, 795, 801, 802, 817, 835, 839, , , Chapter 4; AP Instructors Manual ( ): Chapter 4; Study Guide ( ): Chapter 4; Test Banks ( , , ): Chapter 4 ( ): Chapter 4 E.2.3 Describe the role of buyers and sellers in determining the equilibrium price. SE/TE: , , , 154, 155, 160, , 176, 178, , 183, 184, 186, , , , 209, , 222, 223, 227, 229, 231, 233, 234, , 282, 283, 326, 328, 331, , 338, 339, 342, , , 365, , , 389, 393, 398, 399, , 420, 421, 426, 428, 430, 431, 433, , 451, 452, , 461, 462, 463, 464, , 481, 482, 485, , 586, , 631, 635, 644, 645, , 708, 709, 710, 716, , 792, 795, 798, 802, 835, 839, , 863, 864, 871, 873, 875, 876, 887, 904, 905 Chapter 4.3; AP Instructors Manual ( ): Chapter 4.3; Study Guide ( ): Chapter 4.3; Test Banks ( , , ): Chapter 4.3 5

7 E.2.4 Describe how prices send signals to buyers and sellers. ( ): Chapter 4.3 SE/TE: 106, , , , Chapter 5; AP Instructors Manual ( ): Chapter 5; Study Guide ( ): Chapter 5; Test Banks ( , , ): Chapter 5 ( ): Chapter 5 E.2.5 Recognize that consumers ultimately determine what is produced in a market economy (consumer sovereignty). The foundation of this standard can be found on: SE/TE: , , Chapter 11; AP Instructors Manual ( ): Chapter 11; Study Guide ( ): Chapter 11; Test Banks ( , , ): Chapter 11 ( ): Chapter 11 E.2.6 Demonstrate how supply and demand determine equilibrium price and quantity in the product, resource and financial markets. SE/TE: , , 154, 155, 160, , 176, 178, , 183, 184, 186, , , , 209, , 222, 223, 227, 229, 231, 233, 234, , 282, 283, 326, 328, 331, , 338, 339, 342, , , 365, , , 389, 393, 398, 399, , 420, 421, 426, 428, 430, 431, 433, , 451, 452, , 461, 462, 463, 464,

8 Chapter 4; AP Instructors Manual ( ): Chapter 4; Study Guide ( ): Chapter 4; Test Banks ( , , ): Chapter 4 E.2.7 Demonstrate how changes in supply and demand influence equilibrium price and quantity in the product, resource, and financial markets. ( ): Chapter 4 SE/TE: 94-97, , , , , , , , , 209, , , 282, 283, , , , 459, 460, , , , 469, 470 Chapter 4; AP Instructors Manual ( ): Chapter 4; Study Guide ( ): Chapter 4; Test Banks ( , , ): Chapter 4 ( ): Chapter 4 E.2.8 Describe how the earnings of workers are determined by the market value of the product produced and workers productivity. SE/TE: , 454, 458, , 476, , Chapters 18.2, 18.3, 23.1; AP Instructors Manual ( ): Chapters 18.2, 18.3, 23.1; Study Guide ( ): Chapters 18.2, 18.3, 23.1; Test Banks ( , , ): Chapters 18.2, 18.3, 23.1 ( ): Chapters 18.2, 18.3,

9 E.2.9 Demonstrate how government wage and price controls, such as rent controls and minimum wage laws, create shortages and surpluses. (Government) SE/TE: , , Chapter 7; AP Instructors Manual ( ): Chapter 7; Study Guide ( ): Chapter 7; Test Banks ( , , ): Chapter 7 ( ): Chapter 7 E.2.10 Use concepts of price elasticity of demand and supply to explain and predict changes in quantity as price changes. SE/TE: , , , Chapter 5; AP Instructors Manual ( ): Chapter 5; Study Guide ( ): Chapter 5; Test Banks ( , , ): Chapter 5 ( ): Chapter 5 E.2.11 Illustrate how investment in factories; machinery; new technology; and the health, education and training of people increases productivity and raises future standards of living. (Individuals, Society and Culture) SE/TE: 79, 80, 85, 102, , 319, 321, , 344, 345, 347, 476, , 522, , 532, 632, 633, Chapters 20.4, 25.2, 25.4; AP Instructors Manual ( ): Chapters 20.4, 25.2, 25.4; Study Guide ( ): Chapters 20.4, 25.2, 25.4; Test Banks ( , , ): Chapters 20.4, 25.2,

10 ( ): Chapters 20.4, 25.2, 25.4 Standard 3 - Market Structures Students will understand the organization and role of business firms and analyze the various types of market structures in the United States economy. E.3.1 Compare and contrast the following forms of business organization: sole proprietorship, partnership and corporation. The foundation of this standard can be found on: SE/TE: 324, 378, 388, 394, 437, 438 Resource Disk ( ) E.3.2 Identify the three basic ways that firms finance operations (retained earnings, stock issues and borrowing) and explain the advantages and disadvantages of each. SE/TE: 299, 447, , 596, 597, 598 Chapters 24.1, 26.1; AP Instructors Manual ( ): Chapters 24.1, 26.1; Study Guide ( ): Chapters 24.1, 26.1; Test Banks ( , , ): Chapters 24.1, 26.1 ( ): Chapters 24.1, 26.1 E.3.3 Recognize that economic institutions, such as labor unions, nonprofit organizations and cooperatives, evolve in market economies to help members and clients accomplish their goals. (Government; Individuals, Society and Culture) SE/TE: 585, 586 Resource Disk ( ) 9

11 E.3.4 Identify the basic characteristics of the four market structures: monopoly, oligopoly, monopolistic competition and pure competition. SE/TE: 158, , , , , , , , , , , , , 443, 444 Chapters 13, 14, 15, 16, 17; AP Instructors Manual ( ): Chapters 13, 14, 15, 16, 17; Study Guide ( ): Chapters 13, 14, 15, 16, 17; Test Banks ( , , ): Chapters 13, 14, 15, 16, 17 ( ): Chapters 13, 14, 15, 16, 17 E.3.5 Explain how competition among many sellers lowers costs and prices. SE/TE: , 345, 347, 348, , , , Chapters 13.3, 14.3, 15.1, 15.2; AP Instructors Manual ( ): Chapters 13.3, 14.3, 15.1, 15.2; Study Guide ( ): Chapters 13.3, 14.3, 15.1, 15.2; Test Banks ( , , ): Chapters 13.3, 14.3, 15.1, 15.2 ( ): Chapters 13.3, 14.3, 15.1, 15.2 E.3.6 Demonstrate how firms determine price and output through marginal analysis. SE/TE: 12, 13, 16, 18, 21, 72-78, 148, 149, 150, , 176, 177, 182, 187, 195, , 230, , 246, 247, 248, 249, 250, 255, 256, 257, , 282, 284, , 308, 311, 312, 319, 320, 325, 326, 328, 329, , , , 359, 360, 362, 363, , , , , , , 449, 450, 451, 452, 468, 760, 762, 772,

12 Chapters 6.3, 12.2; AP Instructors Manual ( ): Chapters 6.3, 12.2; Study Guide ( ): Chapters 6.3, 12.2; Test Banks ( , , ): Chapters 6.3, 12.2 ( ): Chapters 6.3, 12.2 E.3.7 Explain ways that firms engage in price and non-price competition. SE/TE: 135, 136, , , , , Chapters 14.2, 14.3, 14.4, 15.2, 15.3; AP Instructors Manual ( ): Chapters 14.2, 14.3, 14.4, 15.2, 15.3; Study Guide ( ): Chapters 14.2, 14.3, 14.4, 15.2, 15.3; Test Banks ( , , ): Chapters 14.2, 14.3, 14.4, 15.2, 15.3 ( ): Chapters 14.2, 14.3, 14.4, 15.2, 15.3 E.3.8 Identify laws and regulations adopted in the United States to promote competition among firms. (Government) SE/TE: , , 443, 444 Chapter 17; AP Instructors Manual ( ): Chapter 17; Study Guide ( ): Chapter 17; Test Banks ( , , ): Chapter 17 ( ): Chapter 17 11

13 E.3.9 Explain the function of profit in a market economy as an incentive for entrepreneurs to accept the risks of business failure. SE/TE: 39, , 319, 325, 326, 327, 331, , , , 356, 357, 358, 362, 363, , , 379, , , 407, 408, 410, , 449, 450, 505, 575, 576 Chapters 12.1, 13.2, 13.3; AP Instructors Manual ( ): Chapters 12.1, 13.2, 13.3; Study Guide ( ): Chapters 12.1, 13.2, 13.3; Test Banks ( , , ): Chapters 12.1, 13.2, 13.3 ( ): Chapters 12.1, 13.2, 13.3 E.3.10 Describe the benefits of natural monopolies (economies of scale) and the purposes of government regulation of these monopolies, such as utilities. (Government) SE/TE: 243, 244, 315, 316, 350, 351, 353, 370, 402, 426, 427, 430, 433 Chapters 12.4, 14.1; AP Instructors Manual ( ): Chapters 12.4, 14.1; Study Guide ( ): Chapters 12.4, 14.1; Test Banks ( , , ): Chapters 12.4, 14.1 ( ): Chapters 12.4, 14.1 E.3.11 Explain how cartels affect product price and output. SE/TE: 402, , 427, , 747 Chapter 16.1; AP Instructors Manual ( ): Chapter 16.1; Study Guide ( ): Chapter 16.1; Test Banks ( , , ): Chapter

14 ( ): Chapter 16.1 Standard 4 - The Role of Government Students will understand that typical microeconomic roles of government in a market or mixed economy are the provision of public goods and services, redistribution of income, protection of property rights, and resolution of market failures. E.4.1 Explain the basic functions of government in a market economy. (Government) SE/TE: 17, 34, 43-48, , , 192, , , , , , , , , 351, 352, , 372, , , 443, 444, , 495, 496, 500, 501, 520, 570, 571, , 615, 616, 640, 641, , , , , , , Chapters 9, 10, 17, 19; AP Instructors Manual ( ): Chapters 9, 10, 17, 19; Study Guide ( ): Chapters 9, 10, 17, 19; Test Banks ( , , ): Chapters 9, 10, 17, 19 ( ): Chapters 9, 10, 17, 19 E.4.2 Explain how markets produce too few public goods and how the government determines the amount to produce through looking at benefits and costs. SE/TE: , , Chapters 10.1, 10.2, 19.3; AP Instructors Manual ( ): Chapters 10.1, 10.2, 19.3; Study Guide ( ): Chapters 10.1, 10.2, 19.3; Test Banks ( , , ): Chapters 10.1, 10.2,

15 E.4.3 Describe how the government taxing harmful spillovers* and subsidizing helpful spillovers helps to resolve the inefficiency they cause. ( ): Chapters 10.1, 10.2, 19.3 SE/TE: , , , 192, , , , , , , , 443, 444 Chapters 6.4, 9; AP Instructors Manual ( ): Chapters 6.4, 9; Study Guide ( ): Chapters 6.4, 9; Test Banks ( , , ): Chapters 6.4, 9 ( ): Chapters 6.4, 9 * spillover: the impact of an activity (positive or negative) on the well-being of a third party E.4.4 Describe major revenue and expenditure categories and their respective proportions of local, state and federal budgets. (Government) SE/TE: 46-48, Chapter 2.2; AP Instructors Manual ( ): Chapter 2.2; Study Guide ( ): Chapter 2.2; Test Banks ( , , ): Chapter 2.2 ( ): Chapter 2.2 E.4.5 Explore the ways that tax revenue is used in the community. (Government) SE/TE: 44, 46, 47, 486, 487, 488,

16 Chapters 2.2, 19.3; AP Instructors Manual ( ): Chapters 2.2, 19.3; Study Guide ( ): Chapters 2.2, 19.3; Test Banks ( , , ): Chapters 2.2, 19.3 ( ): Chapters 2.2, 19.3 E.4.6 Identify taxes paid by students. (Government) SE/TE: 200, 201, , , 215, 216 Chapter 8.2; AP Instructors Manual ( ): Chapter 8.2; Study Guide ( ): Chapter 8.2; Test Banks ( , , ): Chapter 8.2 ( ): Chapter 8.2 E.4.7 Define progressive, proportional and regressive taxation. (Government) SE/TE: 200, 201, 209, 213, 215, 486 Chapter 8.2; AP Instructors Manual ( ): Chapter 8.2; Study Guide ( ): Chapter 8.2; Test Banks ( , , ): Chapter 8.2 ( ): Chapter 8.2 E.4.8 Determine whether different types of taxes (including income, sales and social security) are progressive, proportional or regressive. (Government) SE/TE: 201, 208, 209,

17 Chapter 8.2; AP Instructors Manual ( ): Chapter 8.2; Study Guide ( ): Chapter 8.2; Test Banks ( , , ): Chapter 8.2 ( ): Chapter 8.2 E.4.9 Describe how costs of government policies may exceed benefits, because social or political goals other than economic efficiency are being pursued. (Government) SE/TE: 158, , , , 489, 490 Chapter 7; AP Instructors Manual ( ): Chapter 7; Study Guide ( ): Chapter 7; Test Banks ( , , ): Chapter 7 ( ): Chapter 7 E.4.10 Use an economic decision-making model to analyze a public policy issue. (Government) SE/TE: 10-13, 229, , 244, 253, , 433, , 479, 485, Chapters 9, 10, 17, 19; AP Instructors Manual ( ): Chapters 9, 10, 17, 19; Study Guide ( ): Chapters 9, 10, 17, 19; Test Banks ( , , ): Chapters 9, 10, 17, 19 ( ): Chapters 9, 10, 17, 19 16

18 Standard 5 - National Economic Performance Students will understand the means by which economic performance is measured. E.5.1 Define aggregate supply and demand, Gross Domestic Product (GDP), economic growth, unemployment, and inflation. SE/TE: , , , , , , , , 567, 568, , , , , , , , , , , , 754, 788, 789, Chapters 20, 21, 22, 23, 25, 29; AP Instructors Manual ( ): Chapters 20, 21, 22, 23, 25, 29; Study Guide ( ): Chapters 20, 21, 22, 23, 25, 29; Test Banks ( , , ): Chapters 20, 21, 22, 23, 25, 29 ( ): Chapters 20, 21, 22, 23, 25, 29 E.5.2 Explain how GDP, economic growth, unemployment and inflation are measured. SE/TE: , , , , 620, 621, 623 Chapters 20.2, 21.1, 22.1, 25.1; AP Instructors Manual ( ): Chapters 20.2, 21.1, 22.1, 25.1; Study Guide ( ): Chapters 20.2, 21.1, 22.1, 25.1; Test Banks ( , , ): Chapters 20.2, 21.1, 22.1, 25.1 ( ): Chapters 20.2, 21.1, 22.1, 25.1 E.5.3 Explain the limitations of using GDP to measure economic welfare. SE/TE: 498, , 522 Chapter 20.4; AP Instructors Manual ( ): Chapter 20.4; Study Guide ( ): Chapter 20.4; Test Banks ( , , ): Chapter

19 E.5.4 Explain the four phases of the business cycle (contraction*, trough*, expansion* and peak*). ( ): Chapter 20.4 SE/TE: 513, 514, 529, , , 774 Chapter 29.1; AP Instructors Manual ( ): Chapter 29.1; Study Guide ( ): Chapter 29.1; Test Banks ( , , ): Chapter 29.1 ( ): Chapter 29.1 * contraction: phase of a business cycle in which the economy as a whole is in a decline; occurs after the business cycle peaks * trough: the phase of the economy s business cycle that marks the end of a period of declining activity * expansion: the phase when business activity surges * peak: the highest point between the end of an economic expansion and the start of a contraction E.5.5 Analyze the impact of events in United States history, such as wars and technological developments, on business cycles. (History) SE/TE: 529, Chapter 29.1; AP Instructors Manual ( ): Chapter 29.1; Study Guide ( ): Chapter 29.1; Test Banks ( , , ): Chapter 29.1 ( ): Chapter

20 E.5.6 Identify the different causes of inflation and explain who gains and loses because of inflation. SE/TE: , 557, 558, , 723, 748, 801, , , Chapters 28.2, 32; AP Instructors Manual ( ): Chapters 28.2, 32; Study Guide ( ): Chapters 28.2, 32; Test Banks ( , , ): Chapters 28.2, 32 ( ): Chapters 28.2, 32 E.5.7 Analyze the impact of inflation on students economic decisions. SE/TE: 22, , 563, 564, Chapter 28.3; AP Instructors Manual ( ): Chapter 28.3; Study Guide ( ): Chapter 28.3; Test Banks ( , , ): Chapter 28.3 ( ): Chapter 28.3 E.5.8 Illustrate and explain cost-push and demand-pull inflation. SE/TE: , , Chapters 29.2, 29.3, 29.4; AP Instructors Manual ( ): Chapters 29.2, 29.3, 29.4; Study Guide ( ): Chapters 29.2, 29.3, 29.4; Test Banks ( , , ): Chapters 29.2, 29.3, 29.4 ( ): Chapters 29.2, 29.3,

21 E.5.9 Recognize that a country s overall level of income, employment and prices are determined by the individual spending and production decisions of households, firms and government. (Government; Individuals, Society and Culture) SE/TE: 42-48, , , , , , Chapters 2.2, 29.2, 29.3, 29.4, 30; AP Instructors Manual ( ): Chapters 2.2, 29.2, 29.3, 29.4, 30; Study Guide ( ): Chapters 2.2, 29.2, 29.3, 29.4, 30; Test Banks ( , , ): Chapters 2.2, 29.2, 29.3, 29.4, 30 ( ): Chapters 2.2, 29.2, 29.3, 29.4, 30 E.5.10 Illustrate and explain how the relationship between aggregate supply and aggregate demand is an important determinant of the levels of unemployment and inflation in an economy. SE/TE: , , , , 788, 789, 792, 793, 795, 800, 801, 805, 807, 808, , , , , , Chapters 29.2, 29.3, 29.4, 32, 33.2, 33.3; AP Instructors Manual ( ): Chapters 29.2, 29.3, 29.4, 32, 33.2, 33.3; Study Guide ( ): Chapters 29.2, 29.3, 29.4, 32, 33.2, 33.3; Test Banks ( , , ): Chapters 29.2, 29.3, 29.4, 32, 33.2, 33.3 ( ): Chapters 29.2, 29.3, 29.4, 32, 33.2, 33.3 E.5.11 Compare and contrast solutions for reducing unemployment. (Government) SE/TE: 537, 538, 541, 546, 583, 584,

22 Chapter 23.2; AP Instructors Manual ( ): Chapter 23.2; Study Guide ( ): Chapter 23.2; Test Banks ( , , ): Chapter 23.2 Standard 6 - Money and the Role of Financial Institutions ( ): Chapter 23.2 Students will understand the role of money and financial institutions in a market economy. E.6.1 Explain the basic functions of money. SE/TE: 648, 649, 655, 669, 670 Chapter 26.1; AP Instructors Manual ( ): Chapter 26.1; Study Guide ( ): Chapter 26.1; Test Banks ( , , ): Chapter 26.1 ( ): Chapter 26.1 E.6.2 Identify the composition of the money supply of the United States. SE/TE: , 669, 670, 704 Chapter 26.1; AP Instructors Manual ( ): Chapter 26.1; Study Guide ( ): Chapter 26.1; Test Banks ( , , ): Chapter 26.1 ( ): Chapter 26.1 E.6.3 Explain the role of banks and other financial institutions in the economy of the United States. SE/TE: 650, , , , ,

23 Chapter 26.2; AP Instructors Manual ( ): Chapter 26.2; Study Guide ( ): Chapter 26.2; Test Banks ( , , ): Chapter 26.2 ( ): Chapter 26.2 E.6.4 Explain how interest rates act as an incentive for savers and borrowers. SE/TE: 459, 460, 461, 462, 467, 469, 562, 563, 564, 565, , , 611, 667, 699, 700, , , 716, , 739, 740, 783, , 804, 805, 807, Chapters 18.4, 24.2, 24.3, 28, 31.2; AP Instructors Manual ( ): Chapters 18.4, 24.2, 24.3, 28, 31.2; Study Guide ( ): Chapters 18.4, 24.2, 24.3, 28, 31.2; Test Banks ( , , ): Chapters 18.4, 24.2, 24.3, 28, 31.2 ( ): Chapters 18.4, 24.2, 24.3, 28, 31.2 E.6.5 Describe the organization and functions of the Federal Reserve System. (Government) SE/TE: 656, , 676, 677, 678, 679, , , , 709, 710, 783, Chapters 26.3, 27.2, 31.2; AP Instructors Manual ( ): Chapters 26.3, 27.2, 31.2; Study Guide ( ): Chapters 26.3, 27.2, 31.2; Test Banks ( , , ): Chapters 26.3, 27.2, 31.2 ( ): Chapters 26.3, 27.2,

24 E.6.6 Compare and contrast credit, savings and investment services available to the consumer from financial institutions. SE/TE: 596, 597, 651, , , 702, 704 Chapter 26.2; AP Instructors Manual ( ): Chapter 26.2; Study Guide ( ): Chapter 26.2; Test Banks ( , , ): Chapter 26.2 ( ): Chapter 26.2 E.6.7 Demonstrate how banks create money through the principle of fractional reserve banking. SE/TE: , 693, 694, 695 Chapter 27.1; AP Instructors Manual ( ): Chapter 27.1; Study Guide ( ): Chapter 27.1; Test Banks ( , , ): Chapter 27.1 ( ): Chapter 27.1 E.6.8 Research and monitor financial investments, such as stocks, bonds and mutual funds. SE/TE: 447, 448, 596, 597, 611, 616 Chapter 24.1; AP Instructors Manual ( ): Chapter 24.1; Study Guide ( ): Chapter 24.1; Test Banks ( , , ): Chapter 24.1 ( ): Chapter

25 E.6.9 Analyze the difference in borrowing costs using various rates of interest when purchasing a major item, such as a car or house. SE/TE: 611 Resource Disk ( ); E.6.10 Formulate a savings or financial investment plan for a future goal. SE/TE: , 288 Chapter 11.1; AP Instructors Manual ( ): Chapter 11.1; Study Guide ( ): Chapter 11.1; Test Banks ( , , ): Chapter 11.1 ( ): Chapter 11.1 Standard 7 - Economic Stabilization Students will understand the macroeconomic role of the government in developing and implementing economic stabilization policies and how these policies impact the economy. E.7.1 Define and explain fiscal and monetary policy. (Government) SE/TE: 663, , , , , , 741, , , , , , Chapters 27.2, 31, 33, ; AP Instructors Manual ( ): Chapters 27.2, 31, 33; Study Guide ( ): Chapters 27.2, 31, 33; Test Banks ( , , ): Chapters 27.2, 31, 33 ( ): Chapters 27.2, 31, 33 E.7.2 Define the tools of fiscal and monetary policy. (Government) SE/TE: , , 807,

26 Chapters 31.1, 31.2, ; AP Instructors Manual ( ): Chapters 31.1, 31.2; Study Guide ( ): Chapters 31.1, 31.2; Test Banks ( , , ): Chapters 31.1, 31.2 ( ): Chapters 31.1, 31.2 E.7.3 Describe the negative impacts of unemployment and unexpected inflation on an economy and how individuals and organizations try to protect themselves. (Individuals, Society and Culture) SE/TE: 8, , 537, , 584, , 723, , , Chapters 21.2, 21.3, 28.3, 32.1, 32.2; AP Instructors Manual ( ): Chapters 21.2, 21.3, 28.3, 32.1, 32.2; Study Guide ( ): Chapters 21.2, 21.3, 28.3, 32.1, 32.2; Test Banks ( , , ): Chapters 21.2, 21.3, 28.3, 32.1, 32.2 ( ): Chapters 21.2, 21.3, 28.3, 32.1, 32.2 E.7.4 Explain how monetary policy affects the level of inflation in the economy. SE/TE: , , 797, 798, 799, 800, 801, 802, 804, 805, 807, 838, , 855 Chapters 28.2, 31.2, 33.3 ; AP Instructors Manual ( ): Chapters 28.2, 31.2, 33.3; Study Guide ( ): Chapters 28.2, 31.2, 33.3; Test Banks ( , , ): Chapters 28.2, 31.2,

27 E.7.5 Analyze how the government uses taxing and spending decisions (fiscal policy) to promote price stability, full employment and economic growth. (Government) ( ): Chapters 28.2, 31.2, 33.3 SE/TE: 783, 784, 785, 805, 807, 836, 837, 839, Chapters 31.1, 33.1 ; AP Instructors Manual ( ): Chapters 31.1, 33.1; Study Guide ( ): Chapters 31.1, 33.1; Test Banks ( , , ): Chapters 31.1, 33.1 ( ): Chapters 31.1, 33.1 E.7.6 Analyze how the Federal Reserve uses monetary tools to promote price stability, full employment and economic growth. (Government) SE/TE: 667, , , , , , 839, , Chapters 27.2, 28.2, 31.2, 33.2; AP Instructors Manual ( ): Chapters 27.2, 28.2, 31.2, 33.2; Study Guide ( ): Chapters 27.2, 28.2, 31.2, 33.2; Test Banks ( , , ): Chapters 27.2, 28.2, 31.2, 33.2 ( ): Chapters 27.2, 28.2, 31.2, 33.2 E.7.7 Predict possible future effects of the national debt on the individual and the economy. (Government) SE/TE: 8, 46, 609, 610, 612, 783, 784, 786,

28 Chapter 31.1; AP Instructors Manual ( ): Chapter 31.1; Study Guide ( ): Chapter 31.1; Test Banks ( , , ): Chapter 31.1 ( ): Chapter 31.1 E.7.8 Predict how changes in federal spending and taxation would affect budget deficits and surpluses and the national debt. (Government) SE/TE: , 612, 613, 615, 784, 786, 787, 806 Chapter 31.1; AP Instructors Manual ( ): Chapter 31.1; Study Guide ( ): Chapter 31.1; Test Banks ( , , ): Chapter 31.1 ( ): Chapter 31.1 E.7.9 Explain how a change in monetary or fiscal policy can impact a student s purchasing decision. SE/TE: 787, 788, 789, 799, 800, 803, 804, 805, 834, 835, 836 Chapters 31.1, 31.2; AP Instructors Manual ( ): Chapters 31.1, 31.2; Study Guide ( ): Chapters 31.1, 31.2; Test Banks ( , , ): Chapters 31.1, 31.2 ( ): Chapters 31.1,

29 Standard 8 - Trade Students will understand why individuals, businesses and governments trade goods and services and how trade affects the economies of the world. E.8.1 Explain the benefits of trade among individuals, regions and countries. (Geography; Individuals, Society and Culture) SE/TE: 641, , 883, 885, 886, 887 Chapter 34.2; AP Instructors Manual ( ): Chapter 34.2; Study Guide ( ): Chapter 34.2; Test Banks ( , , ): Chapter 34.2 ( ): Chapter 34.2 E.8.2 Define and distinguish between absolute and comparative advantage. SE/TE: 81-85, 87, 88, , 870, 871, 881, 885, 886, 888 Chapters 3.5, 34.2; AP Instructors Manual ( ): Chapters 3.5, 34.2; Study Guide ( ): Chapters 3.5, 34.2; Test Banks ( , , ): Chapters 3.5, 34.2 ( ): Chapters 3.5, 34.2 E.8.3 Define trade barriers, such as quotas and tariffs. (Government) SE/TE: , , 877, 888 Chapter 34.3; AP Instructors Manual ( ): Chapter 34.3; Study Guide ( ): Chapter 34.3; Test Banks ( , , ): Chapter

30 E.8.4 Explain why countries erect barriers to trade. (Government) ( ): Chapter 34.3 SE/TE: , , 877, , 888 Chapter 34.3; AP Instructors Manual ( ): Chapter 34.3; Study Guide ( ): Chapter 34.3; Test Banks ( , , ): Chapter 34.3 ( ): Chapter 34.3 E.8.5 Explain the difference between balance of trade and balance of payments. SE/TE: 861, , 913, 914, 915 E.8.6 Compare and contrast labor productivity trends in the United States and other developed countries. Chapter 35.1; AP Instructors Manual ( ): Chapter 35.1; Study Guide ( ): Chapter 35.1; Test Banks ( , , ): Chapter 35.1 ( ): Chapter 35.1 SE/TE: 50, 102, 580, , 630, 631, , Chapter 25.3; AP Instructors Manual ( ): Chapter 25.3; Study Guide ( ): Chapter 25.3; Test Banks ( , , ): Chapter

31 E.8.7 Explain how most trade occurs because of a comparative advantage in the production of a particular good or service. ( ): Chapter 25.3 SE/TE: 81-85, 87, 88, , 870, 871, 881, 885, 886, 888 Chapters 3.5, 34.2; AP Instructors Manual ( ): Chapters 3.5, 34.2; Study Guide ( ): Chapters 3.5, 34.2; Test Banks ( , , ): Chapters 3.5, 34.2 ( ): Chapters 3.5, 34.2 E.8.8 Explain how changes in exchange rates impact the purchasing power of people in the United States and other countries. (Individuals, Society and Culture) SE/TE: 889, , Chapter 35.2; AP Instructors Manual ( ): Chapter 35.2; Study Guide ( ): Chapter 35.2; Test Banks ( , , ): Chapter 35.2 ( ): Chapter 35.2 E.8.9 Evaluate the arguments for and against free trade. SE/TE: , 887, 888 Chapter 34.4; AP Instructors Manual ( ): Chapter 34.4; Study Guide ( ): Chapter 34.4; Test Banks ( , , ): Chapter

32 E.8.10 Identify skills that individuals need to be successful in the global economy. ( ): Chapter 34.4 SE/TE: 455, 456, 476, , 580 Chapter 18.3, 19.2; AP Instructors Manual ( ): Chapter 18.3, 19.2; Study Guide ( ): Chapter 18.3, 19.2; Test Banks ( , , ): Chapter 18.3, 19.2 ( ): Chapter 18.3,