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This class was very helpful for me in giving me an idea of what I might expect for later classes, such as microeconomics. One thing I enjoyed learning about was international trade and tariffs because that was very relevant to today’s politics, and while I don’t usually discuss adult things such as politics with myContinue reading “Eli’s reflection – Ch. 23”

What is happening in the world today shows a short-run effect that unemployment has on inflation – because so many people are being laid off, prices seem to be going down. This, however, is not something done by policymakers but by a virus. These stimulus checks are an example of how strongly policymakers believe inContinue reading “Eli’s Reflection – CH. 22”

Public policies essentially influence the Confidence in consumers, both in booms and recessions. If the AD curve shifts to the left, for example, The Fed can increase the money supply and lower interest rates to push the AD curve back to the right. In the case of an overheating economy, The Fed can contract theContinue reading “Eli’s Reflection – Ch. 21”

A recession is coming soon if it hasn’t already hit the starting point. People are being told to stay in their homes and only go out for the essentials, which means a sudden change in consumption. Less consumer spending will then lead to a shift to the left in the AD curve, and it’s notContinue reading “Eli’s Reflection- Ch. 20”

Q1: How is the equilibrium of interest rates naturally reached for loanable funds? Adequate Response: This equilibrium is reached by the amount of people who want to save exactly balancing with the desired quantities of domestic investment and net capital outflow. Very Good Response: For the equilibrium to be reached, the amount of people whoContinue reading “Eli’s Reflection – Ch. 19”

One thing I found interesting in this chapter was how much bigger of a percentage imports are to this country’s GDP compared to exports. I know we import much more from China than we export to them, but I guess I just thought that we were also exporting a lot more to other countries thanContinue reading “Eli’s reflection – Ch. 18”

The costs of inflation include the shoelather costs, menu costs, tax distortions, costs of confusion and inconvenience, and arbitrary distribution of wealth. They’re all important, but the one that probably most affects people worldwide is arbitrary distributions of wealth. Because most countries have high rates of inflation, they are unpredictable and cause unexpected inflation. ThisContinue reading “Eli’s Reflection – Ch.17”

Cash is very important to the overall money supply, although that is definitely becoming less the case in this country. When I was a manager at my local Little Caesar’s Pizza, I was in charge of counting the money at the end of the day, and most of the time, over half of the purchasesContinue reading “Eli’s Reflection – Ch. 16”

There will always be some unemployment due to a couple of reasons. First, frictional unemployment means there will always be people transitioning jobs and it takes time for them to find the right fit, so they will account for unemployment. Second, if there’s more labor supplied than demanded, this causes unemployment by what’s called structuralContinue reading “Eli’s Reflection, Ch. 15”

When I first started learning about investing my money and this whole idea of not putting all my eggs in the same basket was when I got my first job in high school, so I didn’t have very much money. I downloaded an app called Acorns, which takes round-ups off of purchases and starts puttingContinue reading “Eli’s Reflection – Ch. 14”