This week’s economic news summary includes the diner’s dilemma and marginal analysis, property rights in outer space, the Phillip’s Curve and unemployment.
Showing the connection between inflation and unemployment, the Phillips Curve has been re-interpreted, re-affirmed and condemned as a monetary policy tool.
This week’s everyday economics stories involved quantitative easing, monetary and fiscal policy, supply and demand, ROI, GDP, unemployment and inflation.
When the Federal Reserve’s three basic monetary policy tools did not work, it created quantitative easing to up economic growth and decrease unemployment.
Every year, my class meets Harriet Shaw through a PBS NewsHour broadcast from 1991. An economic assistant for the Bureau of Labor Statistics (BLS), she is a professional shopper who tracks prices. In the newscast, we follow her up and down store aisles until…
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