Assignment:
1. Compare the ranking of U.S. GDP (purchasing power parity) to that of other countries by visiting the CIA's World Factbook.
After reading the article U.S.A comes up a bit short in global Better Life Index and comparing the relative ranking of U.S. GDP to other countries, what is the link between wealth and welfare? Do governments have a responsibility to address welfare?
2.Consider the following headline: U.S. consumer spending up 0.4 percent in January while income increased 0.3 percent
Published March 03, 2014
Associated Press
According to the NBC Learn clip Consumer Confidence Hits Five-Year High, how does optimism and certainty about the economy affect consumer spending? Synthesizing the concepts of consumer confidence and aggregate demand, describe how spending can bring an economy out of a recessionary gap and whether increased spending is justified even if incomes don't keep up.
3.After watching the video Generational Theft regarding our nation's debt situation and the impact of entitlements like Social Security and Medicare, consider our Saint Leo core values of responsible stewardship and community and answer the following questions:
1. What responsibility do we have as a society to help the elderly and disabled?
2. What potential changes could the federal government enact to help the viability of both programs?