Due Wednesday – Economics

1. Select a good that you are familiar with. What are the factors that shift the demand curve for this good? What are the factors that shift the supply curve for this good? How do you expect the supply and demand of your selected good to change in the next year? Relate your expectation to price and quantity.

 

2. Is GDP a good measure of economic well-being? Why or why not?

 

3. What causes inflation? Discuss the impact of inflation on American families.

 

4. Are US trade policies harmful or good for the US economy? Why or why not?

 

5. We experienced the use of fiscal and monetary policies during the recession of 2008. In your opinion, were these policies successful? Why or why not?