Discussion#6
In the last unit we looked at consumer spending and how it is important when there is a downturn in the economy. At the beginning of the April stimulus payments were made to most individuals for $1,200 with specific income limitations and additional payments for dependents. Do you think most people who received the payments spent that money or saved it? Why did the government do this (just stating to help the economy will not get credit)? Describe the process/changes that would occur throughout the economy if consumers spent the stimulus payments in relation to what we covered using class terms. If you use a news article or story online, please make sure to site the article at the end of your post in MLA format.
Discussion#7
We have covered a lot of different topics this semester that you may or may not have heard about before. Which topic in this class did you find the most interesting and why or what topic do you believe will help you most in your future and why?
Scarcity
Opportunity Cost
Production Possibilities Curve
Supply and Demand
Equilibrium, Surplus, and Shortages
GDP
expenditure approach
Nominal vs Real GDP
Business cycles
potential issues with the unemployment rate
Inflation
CPI
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