ECONOMICS: THE BIG PICTURE

Two Ways of Looking at the Economy

What are two major divisions in the field of economics?

Economics is a vast subject that can be studied and analyzed from a variety of viewpoints. Two of the most common divisions come under the headings of microeconomics and macroeconomics.

As you might infer from the micro in microeconomics, this view deals with "smaller" aspects of how the economy functions. A case in point is how individual companies conduct business.

Microeconomics also covers consumption of goods and services by households. Another viewpoint is macroeconomics—in economics, the big picture. As you read on, you will encounter some of the major topics that come under this rather broad heading.

Macroeconomics

This is, indeed, the big picture. Macroeconomics attempts to explain how and why the overall economy works. Instead of looking at how companies interact with each other and the government, it covers the most integral ingredients of the economy—a much broader view. This includes topics such as the Federal Reserve System, the Gross Domestic Product (GDP), inflation, and unemployment.

The Federal Reserve System

In the United States, we live within a capitalist system. All capitalist societies have a central banking system. In the United States, this is called the Federal Reserve System. It is often referred to as the Fed.

Created in 1913, the Federal Reserve System consists of 12 districts, each of which has a Federal Reserve Bank. Seven governors, appointed by the US president to a 14-year term, sit on the Federal Reserve Board. The governors' terms overlap presidential terms, so the political influence is minimized.

The Fed controls monetary policy by setting short-term interest rates and by regulating how much money is in circulation. For example, if there is a need to put more life into the economy, the Fed will cut interest rates. Consumers and businesses will then spend more money. The Fed might also authorize the release of more dollars into circulation.

Gross Domestic Product

The Gross Domestic Product, or GDP, is a measuring stick for the output of the economy. It is the dollar figure for the total value of goods and services produced. On the consumer side of the economy, the GDP is goods and services. On the business side, it is investments and capital goods. The GDP is also a leading economic indicator. Economists often use it to evaluate the vitality of the overall economy. Because the purchasing power of the dollar varies from year to year, GDP figures are adjusted annually to take inflation into account.

Inflation

One of the trends the Fed watches is the value of money. If the dollar buys less and there is an increase in prices, then there will be an inflationary trend. This can lead to big economic trouble.

The US Bureau of Labor Statistics is responsible for tracking prices of goods and services on a monthly basis. It prints a report called the Consumer Price Index (CPI) which compares prices from one month to another. The CPI is one tool economists use to monitor the strength of the dollar.

Unemployment

Another focal point for determining the state of the economy is the unemployment rate. This percentage is also monitored each month. A common misconception is that it is calculated based on a ratio of the number of people who are not working to the total number of jobs available. This is a very widespread misunderstanding about unemployment reporting. Actually, only unemployed individuals who are actively pursuing employment opportunities are counted as unemployed. A high unemployment rate signals the possibility of a recession.

This is just a glimpse into the world of macroeconomics. There are many more elements that comprise the universe of economics. We have tried to simplify the view of macroeconomics here. Many other books go into a much more complex approach. They may be your next step in discovering how the economy functions.

3
Select the correct answer.
Given the question and the location of the answers, what is the best way to prepare this passage for review?
A.
Do nothing.
B.
Make a table with the answer.
C.
Take notes on the answer.
D.
Highlight or underline the answer.

Answer: the answer is A that is wrong

Explanation:

It’s looks fun or it look fun?

Which of the following is a difference between federal and state implied power?
A.
Implied state powers are unlike implied federal powers because they are enumerated in the Constitution.
B.
State implied powers are those the Constitution says the federal government doesn't inherently have.
C.
State implied powers and federal implied powers are evenly split in the Constitution.
D.
State implied powers are all the powers not written down in the Constitution.

What does this excerpt suggest about the ancient Greeks' attitude
toward the gods?

When we use a piece of evidence from a text for our assignment, we need...
O a comma followed by a period
O page number and quotation marks
O quotation marks
O the assertion and the tie back

50 POINTS AND BRAINLYEST
Based on your understanding of reflective essays, write a two- or three-paragraph reflective essay about an important incident in your life (dad teaching me how to ride a bike) I will give brainlyest if you make it sound believable an make it 2 to 3 paragraphs

1) Which is the FIRST step in selecting the correct dog breed?
es
A) Assess your activity level.
B) Figure out why you want a dog.
C) Find out which dogs are hypoallergenic.
D) Consider the amount of time you can devote to a dog.
PHON
Diabte Docented
Read Our Blog Privacy Policy

A large mural decorates one wall of the community center. Some artist painted the mural last year. The mural shows groups of children singing, playing soccer, and reading books.

Which statement best explains why a writer might revise the second sentence to use passive voice rather than active voice?

The writer wants to emphasize how the mural is different from other murals.
The writer hopes to conceal the name of the artist who painted the mural.
The writer does not know the name of the person who painted the mural.

True or False the question is good, there is no such thing as a bad question.

which excerpt from the Tinker v. Does Moines court decision best supports the reasoning that the conduct of the student protesters are protected by the fourth amendment, which guarantees that agencies of the state cannot deny students freedoms listed in the bill of rights

Looking at the word equivocal in the sentence below, which definition from
Webster's dictionary best fits the meaning of the word.
"I learned, moreover, at intervals, and through broken and equivocal hints, another
singular feature of his mental condition."

Choose the correct possessive form for each phrase.
the skins of the potatoes
o A. the potatoe's skins
O B. the potatoes' skins
O C. the potatoes's skins
O D. the potatoes skins

What is the best use of style manual for writing

write a reply letter to your brother about your holiday in ghale gaun​

The hikers stopped to look at the view with Barney Gumble. They
took many pictures.

In a five-paragraph literary analysis essay, explain how each author develops the common theme. Compare and contrast how the authors develop this theme by referencing specific literary devices and techniques in your response. "Response to Executive Order 9066" "Mericans"
I need an answer that is not like others use your own words if done right brainleiest is yours my friend and if u can explain how to give more points to some one i will give another 100

In 'The Lord of the Flies", when Ralph sobs at the end, he is weeping for all of the following, except:

a.
The fact that he will never again be as hopeful and optimistic about people and the future as he was when he first landed on the island.

b.
Piggy


c.
The death of the brave parachutist who was from the boys’ homeland.

d.
The evil nature of man.

Which of the following is
the best synonym for
"apathetically"?
A. enthusiastically
B. perfunctorily
C. avidly
D. eagerly

Read the following passage
Amid the many horrors of the Vietnam War, I found one of
the worst to be the waiting
those quiet times of inactivity
when anticipation of the next attack weighed on me like a
pile of bricks, I might be lying in the mud along a creek bed
somewhere, completely oblivious to the cold, the wet
earth, or the smell of gunpowder still fresh in my nostrile. It
was those times of waiting that showed me i had nothing
else in my mind
no past, no future, no ideas, Just a raw
awareness of the moment.
Which sentence best uses figurative language to match the paragraph's tone?
•
A in the quiet of the jungle, the rippling sounds of the creek carried
me back to happier days on my parente' farm.
B
The jungle had reached into my mind, and its thick vines choked
out everything else that had been there.
C. For years after that, I would remember the terror and suspense of
those long minutes spent waiting
D
could hear my own puise drumming in my ears, but my only
thought was to remain still and quiet.

Its parts of a business letter

what is the prepositional phrase for my doctor explained that a daily walk is healthy ​

Four theme topics for the wizard of oz

3. Which statement best explains what is meant by narrative arc? Narrative arc refers to the highest point of action in the story. The narrative arc refers to who is telling the story and what his or her point of view is. How a story progresses and moves through the plot stages. It refers to how the characters and plot are developed.

Complete the sentence with the appropriate word from the spelling list.

Because of his positive outlook, some might say that Job was a(n) ___ man.


curiosity
deceive
definite
desperate
dinosaurs
discipline
dissatisfied
doesn't
embarrass
environment
exaggerate
grammatical
misspelled
necessary
niece
ninth
nowadays
occurrence
omission
optimistic
parallel
perceive
sophomore
strength
tendency
unnecessary
usually
vacuum

My best friend and I both like rock music. We are --------- in that way.

Complete the sentences with all, both, neither, none or either.
1. We can __________ go by car or take a taxi. What do you prefer?
2. ___________ Ken and Sean watched the film but ________ of the liked it.
3. There was a power failure, so _______ the workes in the building used the stairs to get out.
Plisss help meee​

Select the correct answer.
What is the tone of the passage?
O A.
celebratory
B.
bitter
O c.
humorous
OD. frustrated
Reset
Next

Hello, can someone help me with these two questions?

Explain the importance of learning through authentic experiences.
How you will access students' strengths by tapping into their prior knowledge

Which of the following is an example of plagiarism?
using too many in-text citations
using the Internet to conduct research
failing to format properly the title of the works cited page
failing to cite direct or indirect quotations

What is Don John's plan in Much Ado?

List 15 common themes found in literature