Economic Critique (Week 3 Team Paper)

Economic Critique (Week 3 Team Paper) - Economic Critique...

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Economic Critique Sharika Terry, Cassandra Dixon, Roderick Tucker, Anthony Gaston ECO/372 March 18, 2015 J. Carl Bowman
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Economic Critique International Reporters gather facts, statistical data that help develop factual stories and produce articles. As a reporter it can sometimes take weeks to retrieve factual information about a topic. Team A has been tasked with researching and critiquing the U.S economy. As we explore the U.S. economy will describe the current state of unemployment, expectation, consumer income and the interest. We will also recognize and relate aggregate demand and supply and fiscal policies as they relate to effectiveness of the current economy then critique the Keynesian and Classical model perspectives. In the United States, the unemployment rate gages the amount of people currently looking for employment as a percentage of the labor force. According to Trading Economics the unemployment percentage in the United States reduced to 5.50 percent in February of 2015 from 5.70 percent in January of 2015 (2015). Because of the increase unemployment the supply labor has reduced. People without jobs appear to have become discouraged and stop looking for jobs, unemployment rate has escalated higher than ever before. This has caused the aggregate supply curve to shift to the left. Employers may use the act of unemployment to reduce wages. Society overall appears to have become distressed due to unemployment and may be willing to work for less. This would shift the aggregate supply curve to the left. The government is currently recommending the expansionary fiscal policy be used to aid in the decreasing of unemployment by helping to increase aggregate demand and the rate of economic growth. The President has
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