1.What factors are used to determine the unemployment rate?

2.Provide the name of the United States central bank and explain its purpose in the U.S. and the global economy.

3.Explain the difference between a recession and a depression.(Provide examples)

4.Explain the difference between inflation and deflation (provide examples).

5.Explain what fractional reserve banking is and provide the ratio that is applied for fractional reserve banking in the United States.