Developing a Budget for the U.S. Government
By Jen Bero
Learners follow the step-by-step process the U.S. Government uses for creating the federal budget. The topics of budget surpluses and deficits and the federal deficit are covered.
Students read about the Federal Reserve System's structure and goals and the tools it uses to control the flow of money and credit in the economy. At the end of this activity, learners are asked to write how they would solve specific economic problems if they served on the Fed's Board of Governors.
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In this interactive object, learners change the amount of money received from tax revenue and the amount spent on federal programs as they calculate how fiscal policy affects the gross domestic product (GDP), unemployment, inflation, the annual deficit, the national debt, and interest on the national debt.