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consider how the economy may be influencing your life. What has the most impact on you? Has a similar economic condition happened in the past? What is the likelihood it could happen again? What should you do to prepare for the next period of economic challenge?

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Hubert Koch
Hubert KochLv2
2 Jan 2018
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Related questions

I'd like you to take the opportunity to reflect on how the US and world economy has changed throughout the past few generations, and consider what impact you feel this has had on you family's history. How will your career be different from that of your parents or grandparents? Do you expect to be better off financially? Why or Why Not? Please feel free to talk to family members before responding and get a sense of what your family's economic history has been. Have people in your family moved for work? Did they migrate from far away? Do you consider yourself and your family to be wealthy? privileged? Thank you for your thoughts

1) Economic growth

a) China has had a much faster growth rate than America for the past 30 years. However, in terms of GDP per capita, they might not ever catch up (or maybe they will). Comment on this and in your answer use the factors of growth.

b) It has been said that America has adopted an economic policy where we wait around for the next technological advancement. During this time our GDP growth rate increases. When we are in between periods of technological discoveries our GDP growth rate slows down. What could we do to ensure more constant economic growth?

c) Is technology responsible for destroying jobs. Think about your own life and the economy around you. How many jobs do you see that have been replaced by technology? Are there as many job opportunities as in your parents' day?

Learn the specific monetary and fiscial policy changes (don't forget taxes) that occurred in 1937. Use what you have learned about GDP, production costs and aggregate demand and aggregate supply to project the most likely results of those changes. Next view our current economic condition and the recently proposed tax increases, the ending of the Federal Reserve's Quantitative Easing and the proposals for increased goverment spending that may or may not be offset by spending cuts in other areas. Again using the tools you have learned, what do you think is the most likely result? In other words, compare 2015 to 1937 and explore what lessons and cautions may be learned from that comparision. Think in terms of an economic policy advisor.

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