Classes continued discussing and being lectured on the relationships between the value of money, jobs, wages, increasing and decreasing GDP, and inflation.
The class learned about inflationary spirals. Periods, 3 and 4 learned about the Housing Bubble (period 2 will learn about it next class).
The class discussed at length how the Federal Reserves target of 2% inflation is aimed at steady economic growth. The class discussed the belief that wages should increase at a rate slightly higher than inflation to also stimulate growth of GDP.
The class learned about inflationary spirals. Periods, 3 and 4 learned about the Housing Bubble (period 2 will learn about it next class).
The class discussed at length how the Federal Reserves target of 2% inflation is aimed at steady economic growth. The class discussed the belief that wages should increase at a rate slightly higher than inflation to also stimulate growth of GDP.
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