Course work 7

INSTRUCTIONS
a). READ AND WRITE A POSITIVE COMMENT FOR EACH NUMBER
b). EACH COMMENT SHOULD BE 3 PARAGRAPHS LONG
c). ADD YOUR TAKE ON EACH NUMBER AND MATCH EACH SUBJECT
d). WRITE YOUR COMMENTS IN THE SAME ORDER FROM 1-4 WITH THEIR RESPECTIVE TITLE.

1). ECON102- Proff
When looking at fiscal policy, you will find that changes in taxes and government spending are very important to help an economy be able to stabilize. What are the implications of providing too much support with regard to fiscal policy?

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2).ECON102- kimberly Chamberlin
John Keynes “popularized” the paradox of thrift and insinuates that individuals save more money during a recession (“Definition of ‘Paradox of Thrift’ – The Economic Times,” n.d). A recession can create a lot of mixed emotions with the economy and the families within it. When there is uncertainty money is saved so that if a job is lost individuals have money to fall back on. Non-Keynesian theorists believe that when individuals save their money then bank are willing to lend more money, causing interest rates to be lower, and increase spending (“Definition of ‘Paradox of Thrift’ – The Economic Times,” n.d).
The banks may be more willing to loan money, however, there may not be many individuals willing to borrow money because they may not be able to pay it back. I believe the economy will suffer with a recession because individuals are losing jobs and therefore the government is not receiving as much revenue and this can affect deficit spending as well. The deficit spending would allow the government to create more jobs and with less revenue more important tasks within the economy may need to be dealt with before jobs.
The paradox of thrift is reasonable and makes sense that the individuals would save more money during a recession. It has a ripple effect when jobs are lost and money is being saved as a fall back. When people are not able to save money then they become homeless and have nothing left.
Works Cited
Definition of ‘Paradox Of Thrift’ – The Economic Times. (n.d.). Retrieved from https://economictimes.indiatimes.com/definition/paradox-of-thrift
3). ECON101- Austin von Letkemann
I think anyone who has been an athlete at some point in there life, in any serious manner, has felt keenly the effects of the law of diminishing returns. The text states that the law of marginal diminishing returns says that the production of a good or the taking of an action, over time, will return less benefits or yield than it had initially (Rittenberg, Tregarthen, p. 204). This is interesting, because I think anyone can think of situations, even outside of studying or schoolwork, where this law applies. I do think that the law of marginal utility goes hand in hand with this law as well.
I am currently a sport and health sciences major, so using athletes as an example is easy for me. Athletes experience this law keenly, at one point or another, when they find that training increases past the point where they benefit from it or when their bodies cannot recover adequately. This is a physical representation or the law.
I know that my study personally experiences a sharp dip in productivity and yield when I go over three hours in one sitting. I don’t retain information as effectively and I just generally don’t get as much out of it. I also realize that my stress goes up, and with school work being stressful as it is for me, I try to mitigate any extra stress. I also realize that there are costs associated with my studying and school work in general. That cost is my time, which I would equate to a fixed cost. The text describes a fixed cost as something slightly more permanent, such as a year long lease, this is why I see my time as fixed cost of studying (Rittenberg, Tregarthen, p. 204).
References:
Rittenberg, L., Tregarthen, T., (2012, March). Principles of Microeconomics. Retrieved from https://ebooks.apus.edu.ezproxy2.apus.edu/ECON101/Rittenberg_Ch6-10.pdf
4). ECON101- Ethan Mason
Diminishing returns as defined in our text books is” The range over which each additional unit of a variable factor adds less to total output than the previous unit.” (Rittenberg, p. 203). I might know I’m at the point of diminishing returns and knowing more studying will not benefit me like it did before is when I keep reading the same information time and time again or looking for example of something online but everything I look at keeps giving me the same definition. A cost that I can identify with in this lesson that helps my decision of how much studying is enough is total fixed cost.
Total fixed cost as defined in out textbook is “Cost that does not vary with output.” (Rittenberg, p. 205) When talking in my first paragraph how extra studying or research made no change in my output due to finding the same examples or definitions with no new information learned, this defined total fixed cost in my own words. I feel for me enough studying in when I feel a have a good understanding of the information. This is not to be confused with having some knowledge and then my mind starts to wander. At that point will take a break and come back to the information to see if I can pick up anything new.

Work Cited:
Principles of Microeconomics. Rittenberg, L., Tregarthen, T., (March 2012). Retrieved: https://ebooks.apus.edu.ezproxy2.apus.edu/ECON101/Rittenberg_Ch6-10.pdf