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Chapter 15 Worksheet

Section 1 (pages 370 374) a. b. c. d. e. f. g. 1 2,500 3.02 82.1 Decline Declined GDP h. i. j. k. l. m. n. Incorporated Northeast Planned Representatives Remainder Rise Services o. p. q. r. s. South Voting patterns West Where to locate Workforce

1. How does new housing indicate economic growth? a. New structures will cause a growth in ________________________, a reliable measure of economic growth 2. Why does the federal government conduct a census every 10 years? QC 371 a. To apportion the number of ________________________ each state elects to Congress 3. What is the difference between an urban population & a rural population? a. Urban: people living in ________________________ villages or towns of more than ________________________inhabitants b. Rural: ________________________ of total population 4. Why would these three groups be interested in population trends? QC 373 a. Politicians: may influence ________________________ b. Community leaders: how ________________________ will be affected c. Business people: make decisions on ________________________new stores & factories 5. What are the 3 most important factors affecting population growth, according to demographers? a. . b. . c. . 6. What are the recent changes in population growth on a regional basis? Review 374 a. Population growth has increased in the ________________________ & ________________________, but decreased in the ________________________, Middle Atlantic, & Central Plains regions 7. How will the development of retiring baby boomers affect your generation? Review CT 374 a. Dependency ratio will ________________________ placing a burden on the younger generation b. Retired will question that ________________________ can support them c. Many have ________________________ for retirement 8. Describe the historical growth of population in the US. Review 390 a. Population has grown considerably since colonial times, but the rate of growth has steadily ________________________ b. 1790 1860 population grew ________________________% year c. 1994 rate of population growth below ________________________ percent d. 2012 - rate of population growth link to find out current growth ________________________% 9. Describe how the population of the US is expected to change by the year 2050. a. Rate expected to ________________________ as fertility declines b. Life expectancy at birth predicted to be ________________________ years. Section 2 (pages 376 381) a. b. c. d. e. f. g. h. i. j. Buy Buy Capital Cut jobs Do no care Domestic problems Down Each person Earn wages Educational k. l. m. n. o. p. q. r. s. t. Employers Final Growth Growth Increase Lax Lay off Luxuries Misleading Population u. v. w. x. y. z. aa. bb. cc. dd. Positive role model Production Real GDP Replenished Standard of living Standard of living Tax base Tax structure Whole World growth

Chapter 15 Worksheet

1. How do real GDP & real GDP per capita differ? Review 381 a. Real GDP: dollar amount of ________________________ output for the ________________________ economy b. Real GDP per capita: dollar amount of ________________________produced for ________________________in the economy 2. Why is real GDP per capita considered the best measure of long-term economic growth? Cap 378 a. Because if changes in ________________________ are not taken into account, changes in real GDP can be ________________________. 3. What are renewable resources? QC 379 a. Resources that can be ________________________ 4. How does saving influence economic growth? a. Saving frees up factors of ________________________ to generate new ________________________, which leads to overall economic ________________________ 5. List 5 important aspects of economic growth. a. ________________________increases b. ________________________expands c. ________________________decrease d. ________________________stimulated e. Provides ________________________ for emerging nations 6. What are the 4 factors influencing economic growth. a. . b. . c. . d. . 7. What are the consequences of a declining labor productivity rate? a. Threatens ________________________v growth & general ________________________ b. People buy more ________________________ as American-made products ________________________ in price c. Companies ________________________& ________________________workers 8. Why is productivity important to a nations standard of living? a. It keeps price levels ________________________ & industries ________________________ b. Consumers continue to ________________________ products c. Workers continue to ________________________& salaries that enable them to ________________________ necessities & ________________________. 9. What are reasons for a slow increase in the rate of productivity? VI 381 a. Workers are ________________________ in their work habits b. ________________________about the companies that employ them c. ________________________ do not care enough about their workers d. ________________________discourages companies from ________________________ in new capital & equipment e. ________________________ system is not preparing workers adequately 10. Why are declines in productivity a concern for everyone? a. Because productivity is a key to economic ________________________ 11. What is the current 2013- economic growth rate. Use link to get answer a. The World Bank = ________________________% United States Section 3 a. b. c. d. e. f. g. 1/3 13 5 50 Credit Distribution Econometric models h. i. j. k. l. m. n. Everything Failed Index of leading indicators Jobless Low productivity Printed Speculative o. p. q. r. s. Stimulate Stock market Tariffs World Worst

Chapter 15 Worksheet

1. How can changes in technology affect the workplace? a. Lack of experience with new technology leads to ________________________in the short-term 2. What was depression scrip? a. Towns, counties, chambers of commerce, civic bodies ________________________ their own money 3. How did the distribution of income contribute to the Great Depression? a. The poor had little income to spend to ________________________ the economy b. The rich had income, but often spent it on such nonproductive activities as ________________________speculation. 4. On average, how many months warning does the index of leading indicators give before the economy enters a recession? a. ________________________ months 5. What are the two main phases of a business cycle? Review 388 a. . b. . 6. List 7 items defining the severity of the Great Depression a. ________________________ economic downturn in US history b. GDP fell ________________________ % c. One out of four workers was ________________________ d. Manufacturing wage plunged to ________________________ cents an hour e. Many banks f________________________ f. Many depositors lost ________________________ g. Money supply fell by ________________________. 7. List 5 causes of business cycles. a. . b. . c. . d. . e. . 8. What are two ways to predict business cycles and show how a business cycle fluctuates? a. ________________________provide algebraic equations that give fairly accurate short-term predictions b. ______________________________________ uses 10 statistical series to make short-term predictions. 9. List the factors that contributed to the Great Depression. a. Disparity in the ________________________ of income b. Spending on ________________________ activities c. Easy & plentiful ________________________ d. Economic conditions in other parts of the ________________________ e. High American ________________________ on imports 10. Identify which stage of the business peak, trough, recession, or expansion the following describes: BT 391 a. Economic analysts state that unemployment has bottomed out. ________________________ b. Output & employment are on the decline. ________________________ c. Factory employment has increased steadily ________________________ d. Output & employment are near capacity ________________________ 11. What areas of business were hit hardest during the Great Recession 2009 - 2010 and by what percentage? List 11. Use the link to help you find the answer. Answer this question at HOME a. . b. . c. . d. . e. . f. . g. . h. . i. . j. . k. . 12. How much did the GDP fall in 2009? Use this link a. ________________________% at its highest (revised) 13. Bureau of Economic Analysis a. Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 1.7 percent in the second quarter of 2013
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Chapter 15 Worksheet

(that is, from the first quarter to the second quarter), according to the "advance" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased ________________________ percent