Barbosa_ECO400_Final - Wesley Barbosa Final ECO400 CSU...

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Wesley Barbosa Final ECO400 CSU Global The article that will be discussed is Revised growth figures, A Deeper hole, The recession was even worse than anyone thought. This article talks about the extreme depth of the recession that we are in and explains why it is worse than most people thought. The article shows the Commerce department’s latest GDP figures as well as revisions to data that go back as far as 2007 to support their claims that the recession is worse than previously believed. People face tradeoffs every day, respond to incentives and society faces a short-run trade- off between inflation and unemployment. These are economic principles that influences people
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to make decisions and effects how people interact and helps explain how the economy works as a whole. These principles are all related to this article. To get something you want, you have to give up something else you want. Scarce resources. Think of allocating your time or money. Societies face a tradeoff between more consumer goods and more public goods. Since governments can borrow, there is a tradeoff between consumption for current and future generations. The article shows that the current
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This note was uploaded on 02/05/2012 for the course ART, HCM, 300 taught by Professor Smith during the Spring '11 term at CSU Pueblo.

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Barbosa_ECO400_Final - Wesley Barbosa Final ECO400 CSU...

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