...Fundamentals of Economic Lorinda Davis ECON/372 August 7, 2012 George Edwards Fundamentals of Economic The fundamentals of economics consist of a many challenges in today’s society. There are six main points of economics the writer will discuss in this paper. The gross domestic product, the unemployment rate, the inflation rate, the real GDP, the interest rate, and the nominal rate. The GDP represents the dollar values of goods and service over a period of time. The gross domestic product is a measure of a country values based on good produced, services rendered, and government spending and the difference of exports minus the imports. The real GDP is the measure of the output that is acclimated for inflation or deflation. The nominal GDP is totally different that the change in price is not account for. Unemployment rate is the percentage of the American population that is able to work, but are currently out of work. The inflation rate is the percentage change in the increase of the price of goods and services. Lastly, the interest are define as an annual percentage divide by the principle balance owed by borrowed money. Purchasing of Groceries, Massive Layoff of Employment, and the Decrease of Taxes The financial activities provide the infrastructure for the U.S. economy. In part two the writer will consider how these affect the purchase of groceries, layoffs, and taxes. The government is one part the equation that makes the economics their financial activities may...
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...that were covered and many of the problems that were needed to be solved were done in a hand on manner. This is, that the simulation would give the reader the problem and help the reader find the correct soulution by suppying tips and advices as well as knowledge. Many different principals and concepts were covered in the similuation from both macroeconomics and microeconomics. The macroeconomics principals and concepts that were illustrated in the simulation were the city councels ntefereance with the housing market and the fact that the councle put a price ceileing on the housing rent. The city councle started regulating the housing prices and put a ceiling of $1550 which is a govenment interefierence and regulation thus making it a macroecnomics concept. There were quiet a few different microeconomics concepts that were used and illustrated in the simulation. Some of the microeconomic conepts were the fact of regusing the prices of the rental appartments and the vacany rates. These two are categorized as microeconomics because first there is no government interferens and second, the two principals are directly related to the current market in Atlantis and help understand the changes and patterens of that specific market. Moreover, not only did the simulation talk about general macroeconomics and icroeconomics concepts it also gave examples and in depth analysis of both the supply curve and the demand curve. The demand curve...
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