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17: Review Your Knowledge
Identify the five characteristics of money.
List the four phases of the business cycle.
How is a depression different from a recession?
Describe five common economic indicators.
How does demand-pull inflation result in higher prices?
Which type of unemployment describes those who are between jobs?
Explain the importance of monetary policy in the economy.
Compare and contrast the easy and tight monetary policies, including interest rate fluctuations.
List and describe three types of taxes used to redistribute income.
Describe the government's role in the economy.
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