Checkpoint Week 1 - In the article the author discusses how...

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The article “Cheap and Cheerful” the author writes about the wage inequality and how it has increased in America and since the late 1980’s. One of the principals of economics the author discusses in this article is people facing trade-offs. The article goes into details about poorer households choosing to spend more money on non-durable items other than other items, and richer households buying more than just non-durable items. The poorer households choose to buy items that were produced in China more than the richer households because the prices are cheaper. In the article “Home Truths” the author writes about the falling house prices are at heart of the economic troubles in the past year. One of the principals of economics the author writes about in this article is the cost of something is what you give up to get it.
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Unformatted text preview: In the article the author discusses how homeowners register their affects of losses of the value in homes and wealth and in turn people would cut back in spending. The article also reflects on the falling hosing wealth causing a crimp in spending by the restriction of getting credit. In the article Ports in a Storm the author writes about the fact that since the economy has been in trouble more people than in the past are signing up for business schools in the MBA program for business administration. In this article one of the principals of economics that is discussed is the cost of something is what you give up to get it. The author discusses how people will give up their earnings while studying in order to work towards the goal of obtaining a masters degree in business administration....
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