While rational choice theory is logical and easy to understand, it is often contradicted in the real world. For example, political factions that were in favor of the Brexit vote, held on June 23, 2016, used promotional campaigns that were based on emotion rather than rational analysis.5These ...
Economics: The way money flows through society is often associated with the way goods and services are consumed in a society. When an economy is doing well people often have more money to buy things, which can help support the economy. Economics looks at how money, products, and other thing...
The more important reason is the differing economics of college and pro football. In college, where many quarterbacks are the focus of the rushing attack, there is little economic risk involved in such tactics. A Division I college invests a maximum of about $250,000 in a quarterback and kno...
“That’s the rule of thumb that’s often been used,” says Eric Swanson, economics professor at the University of California, Irvine, who spent 10 years at the Fed. “But the last couple of recessions, it’s not quite been true.” Technically speaking, a recession is when the National...
The concept of economic stimulus is associated with 20th century economistJohn Maynard Keynes. A recession, according to Keynesian economics, is a deficiency ofaggregate demandwhere the economy will not self-correct. Instead, it reaches a new equilibrium with higherunemployment, lower output, and slow...
Inflation is a sustained increase in prices of goods and services, which can negatively impact purchasing power and lead to tough financial decisions for consumers. The Federal Reserve targets a 2% annual inflation rate as a sign of a healthy economy. ...
“All of the economies involved in the tariffs will see a loss in their real GDP (gross domestic product) and increasing consumer prices in general,” said Wendong Zhang, an assistant professor of applied economics and policy at Cornell University. ...
Here, history is a guide. That’s what happened a few years ago when a supply shortage led to a price shock. In 2021, as automakers tried to ramp up production that had been curtailed in the first year of the pandemic, a shortage of parts, most notably computer chips, cut into car...
Put simply, resilience is the ability to manage through adversity and change, without compromising future well-being” (2022, p.8). In this new understanding, resilience is no longer a single strategy to bounce back from a shock, but rather a combination of absorptive, adaptive and ...
What is a Recession? In economics, arecessionis a contraction in the business cycle. There is a decline in economic activity, which we measure using several macroeconomic indicators. In recessions, the following factors drop: GDP (gross domestic product), investment spending, household income, ...