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Macroeconomics Essay

719 words - 3 pages

Fundamentals of Macroeconomics Paper
Charles R. Davis Jr.
ECO 372
November 12, 2014
Mike Garrison

Fundamentals of Macroeconomics Paper
The study of macroeconomics examines individuals on a very large scale. Society is constantly changing trends and behaviors that can be interpreted into number results. This paper will focus on and give examples of economic activities, such as purchasing groceries, massive layoffs of employees, and decrease in taxes. All of these things affect the government, households, and businesses in one way or another. Also I will describe the flow of resources from one entity to another for each activity as well as relate at least one current event to the ...view middle of the document...

Massive Layoffs
This problem can hurt everyone from the government to the families of the working man or woman. The recession brought many layoffs and hard times for the American people, many were forced to make tough decisions and sacrifices such as having less money to spend, luxury items are usually the first things to go during hard times. This could lead to economic depression and even more layoffs. With layoffs the governments will eventually have to pay for employees without a job including food stamps, benefits, Medicaid, welfare, and insurance.
Decrease in Taxes
Tax cuts is always a good to improve the economy by giving people more spending power, which also leads to higher consumer confidence which leads consumers spending more of their income and leads to more jobs, more investment in technology and will ultimately raise the GDP growth. Less is always more when dealing with taxes the less you have to spend the more you have to spend so to speak. A tax cut encourages the consumers to purchase more product and services which would create more jobs in the future for unemployed...

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