How an economy grows and why it crashes part 2
Storyboard Text
- 6:Put it in the vaultBank, interest rates
- Can I put my fish in the bank so it has safe keeping
- Oh yes, and you will earn 1 fish additional for every 6 months while in the bank
- 8: A republic is born Taxes, Role of the government
- I pay taxes every year to the government to help fix things like our roads
- I am the head of the government I make sure that roads are safe, and give goods and services
- 10:Shrinking fish inflation, money supply
- When I put money in the bank it is apart of the money supply
- 12: the service sector steps up trade deficit, Trade surplus
- I am president of an island but we have a trade deficit because we have been importing too many goods
- I am president of the other island but because we have been exporting more than we have been importing we are in a trade surplus
- 16: Stepping on the gasGDP, Unemployment rate
- GDP is the total sum of things produced within a country in a certain time period
- The unemployment rate this year has been low because there has been a pandemic so many people don't want to work
- END
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