Cpncept Paper

A) Choose one (1) concept from the Chapter Section Titled “Key Concepts,” and:

Key Concepts:
subprime mortgage
collateralized debt obligation
leverage
credit default swap
Phillips curve
inflationary expectations
stagflation
adaptive expectations
rational expectations
efficiency wage theory
monetized debt
automation
jobless recovery

1. Illustrate (in words) the concept by using it in an analogy or a metaphor. Your response must contain at least 2 elements;

    The analogy or metaphor
    A brief explanation of why you see a parallel between the two things you are comparing

2. Use the concept in a contextualized and specific question. In other words, you are being asked to compose a question using the concept. To provide context, the question may be preceded or followed by a brief statement, but your response (meaning your concept question and statement) must have at least 5 elements;

It must contain a question
The question must explicitly use the concept
It must be a question that inquires about the relevance or importance of the concept
It must ask about an specific situation from the real world
It must use data or information (numerical figures, dates, names, locations etc.) from one or more the following sources;
Textbook Section Titled “Issue”
Textbook Section Titled “By the Numbers”
Textbook Section Titled “Around the World”
News Article from http://www.economist.com/
News Article from https://www.bloomberg.com/

B) In your own words, explain why inflation accelerates if policymakers use monetary policy and fiscal policy to keep unemployment below the natural rate.

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