Paragraph Quiz1. President Obama was elected in 2008. How do you

think he has done as president? Compare him to another president in your answer

Where was Obama born?

• Video clip

Economic vocabulary• Stimulus• Increased fiscal spending (usually during recession)

• Deficit spending• When government spends more than they collect in

taxation

• Austerity• Decreased fiscal spending to decrease debt

TIME Magazine article1. What is the author’s economic perspective and why?2. Graph AD/SRAS paragraph #23. Besides the White House who keeps track of our

economy?4. Graph AD/SRAS paragraph #45. Graph AD/LRAS paragraph #46. Since the US GDP grew by over 2% last quarter, what

do you think the President should propose as economic policy in his final 2 years?

7. Has learning macroeconomics changed your political philosophies at all? Explain.