• Innovation and physical capital are 2 of the 4 factors of production. Discuss some specific ways that 1 of the following laws increased the productivity of 1 or both of these factors of production:
• 1862 Pacific Railway Act
• 1956 Federal Aid Highway Act
• 1946 Federal Airport Act
• What other examples of economic concentration can you share?
• What are the risks and advantages to economic concentration?
• How has economic concentration influenced your industry?

• Discuss how changes in the Federal Reserve's monetary policy affect at least 1 of the 4 components of GDP (consumption, investment, government spending, net exports).
• Have the Federal Reserve's countercyclical monetary policies been effective in moderating business cycle swings? Justify your response.