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The President's Dilemma
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Easy Money Policy
Designed to expand the money supply, increase aggregate demand, create jobs, and thus reduce unemployment and promote economic growth.
Tight Money Policy
Characterized by high interest rates and a contraction of the money supply, both of which are designed to reduce aggregate demand.
Supply Side
Where economic growth can be most effectively created by lowering barriers for people to produce (supply) goods and services.
Demand Side
An economic theory that advocates use of government spending and growth in the money supply to stimulate the demand for goods and services and therefore expand economic activity.
Oil Prices
As oil prices continue to rise, cost push inflation begins to occur because there is no readily available substitute that fulfills our need for oil.
The President's Dilemma
By Sean Rule, Matt Davis, Evan Chipman, Charlie Paretchan, and Corey James
Economics 3rd Period
Problem Statement
How can we, as the President's Economic Consultant Team, lower unemployment, lower inflation, and increase economic growth; so that, we do not become unemployed, increase our national debt, and so that we can get this president reelected.
And Finally
Our Solutions
Monetary Policy: The plan to expand or contract the money supply in order to influence the cost and availability of credit.
Fiscal Policy: Overall government program that establishes levels of taxing, borrowing and spending with the goal of promoting economy.
- Buy government securities to expand money supply
- Lower discount rates to expand money supply
- Gas station attendants, which will create jobs with little or no training time (Demand Side)
- Introducing incentives for U.S. companies to start using more Natural Gas. Could be used domestically or for exports. It creates jobs at many different levels. (Supply Side)
- Introduce a Tobacco Tax, a 50% increase on all Tobacco profits, all of which goes directly to the federal government. (Demand Side)
- Incentives for companies that hire people from the middle class as well as support using resources other than oil for fuel. (Demand side)
- Short Term oil fix- tap into Federal Oil Reserves
- Incentives for electric car companies (Supply Side) Higher rebates for consumers (Demand Side)
- Incentive for Carpooling
Photo based on: 'horizon' by pierreyves @ flickr