Economic and Macroeconomics Household Spending Response

Economic and Macroeconomics Household Spending Response

Instructions/Descriptions

Economic and Macroeconomics Household Spending Response

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Instructions: For the following response, respond thoughtfully. Just saying “I agree” or “I disagree” does not constitute a thoughtful response.  State your opinion. Do you agree with them? If so why or why not?

“Spending by the household sector is the largest component—constituting about 70 percent of total spending in the economy. ”

This sentence is significant to me because of the impact it has on our economy/GDP. Household spending is crucial to maintaining a stable and well-off economy for both the consumer and the producer. Especially during this current pandemic, we’ve seen the prices fluctuate greatly because people are trying to save and are spending less money overall besides essentials. It really puts things in perspective.

Firms in Our Macroeconomics Essay

In our session this module week we’ve been discussing the differences between micro and macroeconomics. Hopefully, you’ve learned a lot from our deep dive into the Circular Flow Model. Let’s put what we’re learning to the test! In this assignment, prepare a short essay that distinguishes the role of firms in our macroeconomy.

In your essay, identify the following:

Choose a real-life example of an oligopolistic market structure in the U.S.

Identify how your firm has been impacted by our macroeconomy.

Determine if your firm was dependent on the federal government for a bailout and/or restructuring.

Describe the factors your chosen firm has taken to avoid market failure at a macro-level.

Examine how your chosen firm affects our macroeconomy with regard to economic output.

Economic and Macroeconomics Household Spending Response

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