1. Identify the three primary macroeconomic goals countries have, and describe the importance of each.

2. Explain what inflation is. Then, describe how inflation can be both helpful and harmful to an economy.

3. Describe the four phases of the business cycle expansion, peak, contraction, and trough and the cause of each. Then, briefly explain how recessions and depressions fit into the business cycle.

4. Identify and explain the two primary functions of money. Then, explain how these two primary functions are related to each other.

5. Identify the main role of a country's central bank. Then, identify and describe the three main monetary policy goals of central banks.