Conduct an analysis of a recent article and provide their evaluation and outcome expectations in a written paper of 1500-2500 words that discusses:
- A minimum of three general economic principles related to the article
- Identification of three to five macroeconomic indices
- Definition and explanation of the indices e.g., GDP, CPI, and other economic calculations
- Definition and explanation of the indices
- Discussion about what the specific indices mean in relationship to the overall article and how they impact each other
- Appropriate evaluation, decisions and forecasts that could be made from the information.
Economic principles relate to decision making. It is usually a statement that explains the causes of something and what may happen under certain circumstances. The principles include that people make tradeoffs, the cost of something is what you give up to get it, rational people think at the margin and people respond to incentives (Taussig, 2013).
People make trade offs
There is a definite reason why people make trade offs. All economic goods and services are limited. On the other hand, the need to use the services of the goods and services is limitless. The economic goods and services are not enough to satisfy the consumption desires of everyone…..