Assignment:
Your assignment is to examine the following scenario and determine how the economic theories and concepts you learned this term can be applied to address the questions below. Your response to these questions can be in the form of a short story, a play, a newspaper article, an interview, etc. Be as creative as you like - just be sure to weave together a logical economic analysis. The point of view you take on the topic is entirely your choice. You may address the citizen portrayed in the situation or you may "talk about" the situation to a third party.
For example, you may be a prosecutor summarizing your argument about a crime in which the defense has stated the catalyst for the crime is the economic situation. Or you may be a patient in therapy whose obsession is economics. Let your mind wander and explore, but remember to maintain the applications of economics in your creative work.
The Scenario:
Spartacus is a citizen of the country of Xanadu. His country has been suffering from a severe recession over the last five years during which the country has experienced a steady rise in unemployment. Spartacus, a concerned citizen, ponders the future of his country.
A. What concerns does Spartacus have about the future of his country's economy and his future in the economy if things persist as is?
B. What can the government do to solve the problem?
C. What kind of opportunity costs does the government face if it carries through with your response to question B?
D. What role does Spartacus play in the way things turn out in this economy?