Economics

what is the economy and microeconomics and macroeconomics?

1/Economy is the system by which a country or society produces, distributes, and consumes goods and services. Economics is the social science that studies how people and governments use limited resources to satisfy unlimited needs and wants. 2/Microeconomics is a branch of economics that studies the behavior of individual economic units, such as: consumers firms

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a.w wk 4

nstructions During the Great Recession, like any other economic downturn, unemployment rises, aggregate income declines, and there is a major decline in tax collections. At the same time, increased unemployment causes spending on safety-net programs to rise. In response to these situations, government appears to have only two options (neither good) to stabilize the national

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c.s wk 4

nstructions During the Great Recession, like any other economic downturn, unemployment rises, aggregate income declines, and there is a major decline in tax collections. At the same time, increased unemployment causes spending on safety-net programs to rise. In response to these situations, government appears to have only two options (neither good) to stabilize the national

c.s wk 4 Read More »