Date: Current date
To: Lead Economist Laura
From: Your name
Subject: Sample Report 1 for Voter Anna

I have completed my research and analysis for Voter Anna’s needs. My findings are provided below. Local officials collect property taxes and fees to fund many different governmental programs. One of the most important is the public school system. Local tax dollars are combined with funds received from the state and the federal government to pay the salaries of teachers, staff, and administrators as well as cover the costs associated with building and maintaining schools. There are also many different services provided by the local government, such as garbage collection, police protection, fire protection, parks, libraries, and road maintenance. The local government also determines regulations, such as whether or not stores can sell alcohol or restaurants can allow smoking. Because these services are all important to residents, it is crucial that local politicians be dedicated, honest, and competent. The state government collects sales taxes and fees to fund programs and support education, transportation, health, and welfare. State universities are funded by a combination of state grants and tuition. State highways and railroads are built and maintained to allow residents to easily travel as well as ensure delivery of goods and services to local markets. The state government provides health insurance for children living in poverty and provides unemployment insurance benefits for workers who have been laid off from their jobs. The governor and state legislators are democratically elected officials who bear huge responsibilities for the economic environment of the state. At the federal level, the most expensive programs include Social Security, Medicare, and national defense. Each state sends elected representatives to the Senate and the House of Representatives to represent the interests of the state. Everyone votes for the President and Vice President, and they work with Congress to fund many different programs. The President appoints members of the U.S. Supreme Court to lifetime positions and members of the Federal Reserve Board of Governors to 14-year terms; all appointments are confirmed by the Senate. All together, these individuals who are elected or appointed make a big difference in the state of the nation. At all levels of government, there are laws that influence and control our actions, ranging from speed limits to international trade treaties. The U.S. government is a significant part of the economy, controlling trillions of dollars each year. Therefore, every voter should be informed about the choices they make when going to the polls.

Sample Problem for Project part 2

Sarah is planning to open a landscaping business. She knows that the price she can charge is determined by the forces of supply and demand, but she would like specific information about the events that might be expected to cause the equilibrium price to decrease. This analysis must be consistent with the economic theory of demand and supply, so do some research on the theory first. Briefly describe four events and indicate whether each causes price to fall due to a demand shift or due to a supply shift.

Event 1 – A decrease in income (assuming landscaping services are “normal” goods)

If consumer income falls due to a recession, the demand for landscaping services is likely to decrease or shift to the left, causing equilibrium price to fall. In a recession, many individuals lose their jobs and can no longer afford the luxury of paying for this service. Additionally, without a job, they have free time to spend doing the work themselves.

Event 2 – A decrease in the number of potential consumers in the market

If there are many home foreclosures and, as a result, fewer families live in the neighborhood, the demand for landscaping services will most likely decrease, or shift to the left, causing equilibrium price to fall.

Event 3 – An increase in the number of firms offering landscaping services

With more sellers in the market, the supply curve increases, or shifts to the right. As a result, equilibrium price falls. Increased competition forces each seller to offer a lower price in an effort to keep customers happy.

Event 4 – A decrease in the cost of inputs

A decrease in the wages earned by workers or a decrease in the price of fuel will cause the supply curve to shift to the right and the equilibrium price will fall in the market. Although this means reduced revenue, the business is not necessarily hurt because costs are also down.