Please help me with these two posts;

Post 1:

Sean Chahil posted Mar 30, 2024 11:49 PMSubscribe

Thinking big with David Beckworth: The podcast Macro Musings, hosted by David Beckworth of the Mercatus Center, a think tank at George Mason University, sheds light on significant macroeconomic challenges from the past, present, and future. Economists talk about a variety of subjects within the framework of current events, including labor markets, monetary policy, inflation, and more.

Globally, living standards have increased due to economic growth. Unfortunately, modern economies have forgotten that the gross domestic product (GDP), the gold standard for measuring economic growth, doesn't reflect a country's welfare; rather, it only indicates the size of its economy. However, economists and politicians frequently view GDPor GDP per capita, in some casesas a comprehensive measure of a country's growth that combines social progress and economic prosperity. Therefore, it is believed that policies that lead to economic growth are advantageous for society.

Following up with David Beckworth's podcast on macromusing, In the podcast Macro Musings, hosted by David Beckworth of the Mercatus Center, we delve into the key macroeconomic topics. In macroeconomics, we examine the aggregate production that an economy produces.

Remember that finished products generated in a particular year are referred to as final goods and services. An entirely produced car, for instance, is a final good. All of the resources or inputs utilized to make a vehicle are treated as a single completed product; the items that are used to manufacture final goods are referred to as intermediate parts or inputs and are not counted. Double counting occurs when the intermediate components are counted in addition to the final good; this can reduce the GDP measurement's accuracy.

Customers are interested in knowing how simple it will be to obtain employment, how much it will cost to purchase goods and services from the market, and how much borrowing money might cost. Macroeconomics is used by governments to set interest rates, budget spending, impose taxes, and formulate policy. The one disadvantage of GDP is that data must be gathered after a certain amount of time has elapsed; therefore, the GDP as of right now would just be an estimate. Nevertheless, GDP serves as a foundation for macroeconomic research.

Post 2:

Biana Heacock posted Mar 31, 2024 10:42 PMSubscribe

Hello everyone,

This week's reading taught me more about the Federal Reserve. The Federal Reserve is more important than our political figures. They have full control and can change the supply of money and allow it to move interest rates in the short run which directly affects the GDP. An article by NPR totaled Limitless makes the case that the Federal Reserve is more powerful than we realize. We usually compare the rate of return on money with short-term, not long-term, interest rates. Based off this week's reading I think it's better for the economy when people save their money in institutions verses for PayPal, Venmo and Cashapp. I believe the government should make savings more attractive so people will go bck to investing in that manner.