Steven M. Reff
Economics Lecturer
University of Arizona
(2007 - 2016)
The 2015 University of Arizona
Five-Star Faculty Award

Steven Reff's Resume
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Unit 5:  Long-Run Consequences of Stabilization Policies

• Topic 5.1   Fiscal and Monetary Policy Actions in the Short Run
• Topic 5.2   The Phillips Curve
• Topic 5.3   Money Growth and Inflation
• Topic 5.4   Government Deficits and the National Debt
• Topic 5.5   Crowding Out
• Topic 5.6   Economic Growth
• Topic 5.7   Public Policy and Economic Growth
(20% – 30% of the exam)
8 - 10 class periods
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Unit 5
LR Consequences of Stabilization Policies
Week 12
Below are lessons for Unit 5: Topics 5.4 - 5.7 aligned to the AP® Macroeconomics CED.
You will have textbook readings, short videos with 3 multiple choice questions, workbook
assignments, multiple choice questions, "free" response questions and much more.

These resources can be displayed on the instructor's projection system inside the classroom,
or the instructor can copy the links and give to the students as homework.

Link to the  
AP®  Macroeconomics CED (Course and Exam Description) to see in-depth
coverage on each of the topics listed below for Unit 5:  Long-Run Consequences of
Stabilization Policies.
Principles of Macroeconomics
Topic 5.4  Government Deficits and National Debt
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Day 1:  Week 12
Remember, you still have all of the resources and
assessments that The College Board
® provides for you
and your students.
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Lesson 41:  Economic Growth and Public Policy
Lesson 42:  Economic Growth and Public Policy, Part II
                          (Less-Developed Countries)
Long-Run Consequences of Stabilization Policies (Definitions, Terms, and Formulas)
Economic Growth, Part II (Enlarge Presentations inside eTextbook) for teachers
Economic Growth, Part I (Enlarge Presentations inside eTextbook) for teachers
Crowding Out Effect Using the Loanable Funds and ASAD Graphs
Topics 5.1 - 5.6 Everything You Have to Know for the May Exam
Economic Growth (PPF Graph and ASAD Graph)
Reffonomics Baseball:  Phillips' Curve and Economic Growth
Economic Growth, Aggregate Production Function, and Formulas
Reffonomics Baseball Rules
Stabilization Policies (40 multiple choice questions)
2018 FRQ #2 (Economy of Ucheland, loanable funds, effect on AD, LR potential GDP)
2018 FRQ #2 Scoring Guidelines (rubric)
2002B FRQ  #2 (Tax, loanable funds graph, RIR, I, long-run growth)
2002B FRQ #2 Scoring Guidelines (rubric)
FRQ Short Questions -- Unit 5
NOTE:  Perfectly Competitive Labor Market short FRQs in order of difficulty (2000 - 2006)
2019 FRQ #1, Set 2 (Artland, ASAD graph, loanable funds graph, output gap, LRAS)
20019 FRQ #1, Set 2 Scoring Guidelines (rubric)
2012 FRQ #1 (Draw PPC and Money Market Graph,)
2012 FRQ #3 (Economy of Andersonland, ADAD graph, exports, AD, LRAS)
2010 FRQ #1 (ASAD graph, loanable funds graph, economic growth rate)
2010 FRQ #1 Scoring Guidelines (rubric)
2014 FRQ #1 (ASAD graph, expenditure & tax multipliers, loanable funds, LR growth)
2008 FRQ #1 Scoring Guidelines (rubric)
2008 FRQ #1 (Phillips Curve, expenditure multiplier, loanable funds graph, growth rate)
2014 FRQ #1 Scoring Guidelines (rubric)
2015 FRQ #1 (ASAD graph, money market graph, GS & T multipliers, recessionary gap, LRAS   )
2015 FRQ #1 Scoring Guidelines (rubric)
FRQ LONG Questions -- Unit 5
eVideos -- Short Videos:
eWorkbook Activities Interactive:
Topic 5.7  Public Policy and Economic Growth
Day 2:  Week 12
Day 3:  Week 12
(3 min. or less, along with 3 multiple choice questions)
Topic 5.6  Economic Growth
eTextbook Reading:
eVideos -- Short Videos:
eWorkbook Activities Interactive:
TEST Your Knowledge
(3 min. or less, along with 3 multiple choice questions)
Topic 5.5  Crowding Out (and Crowding In)
Crowding Out and Crowding In Effects
Aggregate Demand Side Shifts (Complementary and Counteracting Policies)
Aggregate Demand Side Shifts (Fiscal Policy)
Aggregate Demand Side Shifts (Monetary Policy)
Day 4:  Week 12
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TEST Your Knowledge
Day 5:  Week 12
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Topic 5.4  Government Deficits and National Debt was covered in
Unit 3: Topic 3.8 Fiscal Policy:  
https://reffonomics.com/2024week6macRST.html
2012 FRQ #1 Scoring Guidelines (rubric)
2012 FRQ #3 Scoring Guidelines (rubric)