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Finance Week 1 Hw.docx - Homework Week 1 Chapter 1 1.2#3...

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Homework Week 1 Chapter 1: 1.2 #3 How does the health of the economy affect your financial health? How healthy is the U.S. economy right now? On what measures do you base your judgments? How will your appreciation of the big picture help you in planning for your future? The health of the economy effects my financial health personally through the exchange rate of the currency of my host country. Here in Germany we use euros, and the value of the American dollar is constantly fluctuating to that of the euro. The economy affects inflation of currency, which in turn affects the exchange rate. From new data reported to The Balance , it is my understanding that our economy is currently quite healthy. The employment rate is above average at 200,000 gained jobs, and the GDP is growing at a rate of 2.6 percent. “Appreciation of the big picture” will help me plan my future (at a later date) because I will have a better understanding of the different types of markets in a specific economy. This will allow me to make better decisions on where to settle down, perhaps buy a house or where to look for a job. Chapter 2: 2.1 #4 You need a jacket, boots, and gloves, but the jacket you want will use up all the money you have available for outerwear. What is your opportunity cost if you buy the jacket?
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