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Essay / Research Paper Abstract
A 6 page paper, most of which is devoted to the question, "Are we better off saving money or spending money?" answered from a macroeconomics perspective. A second multi-part question asks why the people living on an idyllic tropical island would want to encourage tourism and what they would do with the money it generates. Bibliography lists 3 sources.
Page Count:
6 pages (~225 words per page)
File: CC6_KSeconMacTour.rtf
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Unformatted sample text from the term paper:
Take this question from a MACROECONOMIC perspective - does your spending or saving make the economy as a whole better off (and thus indirectly you)? How or why?
We are better off doing both - both from a personal and a macroeconomic perspective. If one is more important than the other, however,
it must be spending. While saving provides much of the capital needed to support financial markets, spending drives demand, diminishing supply and sparking the need to create additional supplies
of goods and services. The law of supply and demand holds that as supply increases, price decreases (Sosin, n.d.). This in turn
should increase demand for the product, which eventually will strain the supply side to increase prices again. The ultimate effect is to establish and maintain price, supply and demand
equilibrium within a range of tolerance of each. There are at least two caveats that apply to operation of supply and demand, however. One relates to whether the
good or service being considered is seen as being essential. If it is, then its behavior on the classic supply and demand curve will not conform to the standard
view of supply and demand. The other is whether either supply or demand is artificially influenced by external factors. Altering the price
of a good also alters the demand for it. If the price can be set artificially higher than market forces would place it, then supply increases. In manufacturing,
producers seek to make and sell more of the higher-value good. In labor, more people enter the labor market in search of promise of higher wages. Demand, however,
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