Macro for Dummies Questions 1. Give three examples of failed socialist type countries, or systems that failed in the last 100 years? And, who is converting to a more market capitalism?

2. Briefly describe the concept of “created wealth”.

3. Please rewrite the term “Wealth Creation” in your own words.

4. What are three things needed to create wealth?

5. What is his example of “Wealth Consumption”? Name two more examples.

6. Please write his brief descriptions of “wealth creation” and wealth consumption”. - “Creation”-

-“Consumption”-

7. Where does Talley say all money comes from in order for government to spend it?

8. As we move into Macroeconomics, we will be looking further into government intervention into economic systems. It is important to understand why there is a constant argument over how much government should intervene. Talley gives his argument against socialized economies saying that there has never been, or never will be a successful country that moves closer to socialism. Do you agree with Talley, and why? (Use the back if you need more space)

Macro for Dummies Questions 1. Give three examples of failed socialist type countries, or systems that failed in the last 100 years? And, who is converting to a more market capitalism?

2. Briefly describe the concept of “created wealth”.

3. Please rewrite the term “Wealth Creation” in your own words.

4. What are three things needed to create wealth?

5. What is his example of “Wealth Consumption”? Name two more examples.

6. Please write his brief descriptions of “wealth creation” and wealth consumption”. - “Creation”-

-“Consumption”-

7. Where does Talley say all money comes from in order for government to spend it?

8. As we move into Macroeconomics, we will be looking further into government intervention into economic systems. It is important to understand why there is a constant argument over how much government should intervene. Talley gives his argument against socialized economies saying that there has never been, or never will be a successful country that moves closer to socialism. Do you agree with Talley, and why? (Use the back if you need more space)