ECO 372 Week 1 Discussion Question 1
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Why is economics considered a social science? What role does economics play in your personal and professional lives?
ECO 372 Week 1 Discussion Question 2
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What is the difference between real and nominal GDP? Does GDP accurately reflect the nation’s welfare? Why or why not? How can a country’s GDP be manipulated? In your opinion, is the U.S. GDP being manipulated? Explain your answer.
ECO 372 Week 2 Discussion Question 1
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Explain the viewpoints of classical and Keynesian economists. How did the economy that existed at the time of these theories influence them? Which theory is more appropriate for the economy today? Why?
ECO 372 Week 2 Discussion Question 2
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Why do Keynesian economists believe market forces do not automatically adjust for unemployment and inflation? What is their solution for stabilizing economic fluctuations? Why do they believe changes in government spending affect the economy differently than changes in income taxes?
ECO 372 Week 3 Discussion Question 1
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What are the uses of money? How do commercial banks and Federal banks create money? Is monetary policy conducted independently in the United States? Explain your answer. Is it important for monetary policy to remain independent from all parties? Why or why not?
ECO 372 Week 3 Discussion Question 2
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What is the difference between contractionary and expansionary monetary policy? What is the intention of each policy under a depression, recession, or robust economy? Which type of monetary policy is more appropriate today and why?