Government spending chart

Review the chart below, upload it to your blog and make two observations about it.

It's official: USA in a Recession

This week the government finally announced our economy is in a Recession and actually has been in one since December of 2007.

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Post on your Blog the following:

1. The difference between the economics terms Recession and Depression.
2. Define the terms GDP (Gross Domesetic Product) and GNP (Gross National Product).
3. Identify the beginning and ending dates of a previous recession in the 2nd half of the 20th century. Link to recession histories
4. Explain how government policies can help end a recession.
5. Were there any economic recessions prior to the Great Depression? Why or why not?

Should the US bail out Ford, Chrysler and General Motors?

Do some research on your own to determine your opinion on this matter.

On your blog please post the following:

1. Three arguments for the government lending them the money they want.


2. Three arguments against the government lending them the money they want.


3. Take a position on the issue and give your reasons.

Link to David Sanger's overview

Link to Mitt Romney's opinion to let them go bankrupt

NY Times opinion piece to bail them out

MarketWatch article about "Big Three" executives' testimony at the Senate Banking Committee on Nov. 18th

Chart upload instructions

How to upload chart:

1. Copy chart from Excel:
2. Click select chart you want to copy
3. Use 'Edit/Copy' pull down command in excel
4. Paste it into MS Paint
5. File save as BMP file
6. Upload to your blog.

If anyone knows an easier way, let me know by posting in teh comments section below.

Westchester Real Estate

I read this article in the Journal News yesterday: Westchester, Putnam sales still slipping. I created this chart using data from an on-line database (link below). Your assignment is to create your own chart from the data, upload it to your blog and make an observation about it.

1. Follow this link to reach the on-line database of real estate statistics over the past ten years.
2. Copy the table into an excel spreadsheet.
3. Make a chart from the data.
4. Upload it to your Blog and make an observation about the data and analyze it.

Observation & analysis example using the chart above:

I didn't realize there is a seasonal pattern to the median housing prices in Westchester. It seems the highest median price occurs in the 3rd quarter of each year. The market demonstrated significant growth over the 1st seven years, but it levelled off over the last three. This is the first time there was a drop in the 3rd quarter prices from the previous year. With the finanacial mess that has happened in September, I wouldn't be surprised if 4th quarter figures for 2008 repeat the negative growth of the 3rd quarter.

Candidate comparison

Look at the websites of the two Presidential candidates: Obama and McCain.

ON YOUR BLOG: Compare their approaches to one of the following:

1. Health care reform
2. Taxes
3. Solution to the financial crisis
4. The war in Iraq
5. Immigration
6. Energy & Environment

Who are Fannie Mae and Freddie Mac?

The US Federal Government decided to bail out Fannie Mae and Freddy Mac. Do some research on these two entities and post on your blog answers to the following questions:

1. Why and when were they formed?


2. What action did the US government take this past weekend?


3. What is the goverment trying to prevent by backing these two organizations?

Remember: post your answer on your Blog.