Lobbyist Economic Growth and Disposable Income Discussions 5) Economic Growth is defined as the long-run expansion of the economy’s ability to produce output. As you may recall from earlier in the course, economic growth is one of the major economic goals of a civilized society. Economists measure Economic Growth as the change in Real GDP from one year to the next.
Economic growth is made possible by increasing the quantity or quality of the economy’s resources (labor, capital, land, and entrepreneurship).
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For this week, your job is to tell us one specific benefit that has resulted from Economic Growth. Look into your past and select one year that you observed a person (maybe even yourself) that received a benefit from economic growth?
Additionally, you should identify one of the factors that has contributed to economic growth?
Lastly, your opinion is needed. Provide your perspective as to what our society can do to enhance more economic growth in the future.
Discussion Post Requirements
In this class you must present well thought-through and substantive first entry. It is also expected of you to respond to other students’ entries at least three times (politely). Be concise but complete. You will receive a grade for this so think your comments through carefully. Economic concepts always score higher too.
Make sure not to repeat what one of your classmates has said, otherwise you will be asked to re-post. Lastly, additional references (besides out textbook) should listed using either the MLA or APA formats; you need not identify our text as a source.
6) Macroeconomists assume there are only two things a person can do with your disposable income, spend it or save it.
Assume that a mad scientist friend of yours, named Stewie (yes a little Family Guy reference for you) has made a time machine. This mad scientist is s doing an experiment and wants to chart your behavior. He wants to chart and tally your personal Marginal Propensity to Consume.
Here are the Scenarios:
Stop #1. Last Month.
You get in the time machine. When you get off, there is magically $100 for you in fresh currency (no, it is not counterfeit or fake or out of date).
You run into the real you on the street. After a moment of freaking your other self out, you hand over the $100 and ask, “How much of this are you going to spend, how much are you going to save?”
You record your answers. This is your MPC last month.
Stop #2. 10 years in the Future.
You once again get in the time machine. When you get off, there is again magically $100 for you in fresh currency (no, it is not counterfeit or fake or out of date).
Once again, you run into the real you on the street. After a moment of freaking your other (now older) self out, you hand over the $100. You find out that amazingly there has been no inflation so the $100 has kept its value. You then ask, “How much of this are you going to spend, how much are you going to save?”
You record your answers. This is your MPC for 10 years from now.
For this week, you will tell us what your two MPCs were and why? Get as personal as you are comfortable with in your spending habits.
Discussion Post Requirements
In this class you must present well thought-through and substantive first entry. It is also expected of you to respond to other students’ entries at least three times (politely). Be concise but complete. You will receive a grade for this so think your comments through carefully. Economic concepts always score higher too.
Make sure not to repeat what one of your classmates has said, otherwise you will be asked to re-post. Lastly, additional references (besides out textbook) should listed using either the MLA or APA formats; you need not identify our text as a source.
7) This week, you get to be a lobbyist or government watchdog. Choose one role (not both):
Lobbyist – Tell us a government plan you want to be implemented by the Federal government. Be sure to tell us why you think your program would benefit the economy. Of course as a responsible person you won’t want to add to the deficit, so please tell us how you plan on paying for this program.
Watchdog – Tell us a government program that you think is foolish and needs to be terminated. Be sure to tell us what you think removal of this program will do to the economy and lastly, what you think the Federal Government should do with the money saved.
The photo is from Congressional archives found here:
U.S. house of representatives [Image]. (n.d.). Retrieved from https://www.visitthecapitol.gov/sites/default/files/styles/card_square/public/images/cards/us-house.jpeg?itok=3ItrNNo2 (Links to an external site.)
Discussion Post Requirements and Due Dates
In this class you must present well thought-through and substantive first entry. It is also expected of you to respond to other students’ entries at least three times (politely). Be concise but complete. You will receive a grade for this so think your comments through carefully. Economic concepts always score higher too.
Make sure not to repeat what one of your classmates has said, otherwise you will be asked to re-post. Lastly, additional references (besides out textbook) should listed using either the MLA or APA formats; you need not identify our text as a source.
