Busn Essay

2525 Words Jun 17th, 2014 11 Pages
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Economics
The Framework for Business

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LO1 What is economics?

LO2 How does fiscal and monetary policy impact the economy?
LO3 What is the free market system and the supply and demand relationship?
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Housing Prices Peaked, and then Plummeted

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Unprecedented Action by the Federal Government
• The Federal Reserve (FED) intervened with financial institutions
• The FED bailed out insurance giant AIG • Congress passed the Troubled Assets Relief Program (TARP) • The Treasury Department spent money on an auto industry bailout • The American Recovery and Reinvestment Act was signed by Congress to turn around the economy

• These fiscal and monetary actions slowly began to improve the economy 6
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A Trillion Dollars?
• If you had started spending a million dollars – every day, without fail – at the start of the Roman Empire, you still wouldn’t have spent a trillion dollars by 2010. • One trillion dollars laid end-to-end would stretch farther than the distance from the earth to the sun.
• You could wrap your chain of bills more than 12,000 times around the earth’s equator. • If you flew a jet at the speed of sound, spooling out a roll of dollar bills behind you, it would take you more than fourteen years to release a

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