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ECN 211 Assignment 1

ECN 211 Assignment 1 - Wayne Kocher ECN 211 McHenry...

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Wayne Kocher ECN 211 – McHenry 2-4-09 Blackboard Assignment #1 Daniel Gross’s article “My Stimulus Is Better Than Yours!” discusses the differences between a monetary stimulus and a fiscal stimulus. He describes the positive and negative effects of employing either of them today. I believe that throughout the article he touches on a few economic principles, which include the principle of opportunity cost, the marginal principle, and the principle of voluntary exchange. I feel the government is using the principle of opportunity cost in either choice. If the government decides to implement either a fiscal stimulus or a monetary stimulus, they must make choices based on what they are sacrificing in order to get what they want. Government spending and cutting taxes is a risk to encourage spending, especially if we already had a fiscal stimulus that was counteracted by an increased cost of resources. The other option, a monetary stimulus, has similar types of trade offs, but the article presents that option as a lower risk to the government.
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