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Mark

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. blurred the lines between individual economies around the world. Technology has forged unprecedented links among countries, making it cost effective—even efficient—to establish computer help centers in Bombay to service customers in Boston, or to hire programmers in Buenos Aires to make websites for companies in Stockholm

2. both the government and the Fed have taken proactive roles to mitigate this economic contraction. The overarching goal is controlled, sustained growth, and both fiscal and monetary policy can help achieve this objective.

3. microeconomics. Macroeconomics is the study of a country's overall economic dynamics, such as the employment rate, the gross domestic product, and taxation policies. While macroeconomic issues may seem abstract, they directly affect your day-to-day life, influencing key variables such as what jobs will be available for you, how much cash you'll actually take home after taxes, or how much you can buy with that cash in any given month. Microeconomics focuses on smaller economic units such as individual consumers, families, and individual businesses. Both macroeconomics and microeconomics have played an integral role in the global economic crisis.

4. While the free market drives performance in the American economy, the federal government and the Federal Reserve can help shape performance. During the recent crisis, both the government and the Fed have taken proactive roles to mitigate this economic contraction. The overarching goal is controlled, sustained growth, and both fiscal and monetary policy can help achieve this objective.

5. The fundamental elements are rights to own a business and keep after-tax profits, the right to private property, the right to free choice, and the right to fair competition. They can profit from these by getting extra money after taxes by owning their own property, and have some

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