Evaluating Fiscal Policy Alternatives and the impact of a change in government spending or taxation on the real Gross Domestic Product (GDP) and aggregate income of the economy. Economics is the social science that studies the production, distribution, exchange, and consumption of goods and services. The study of economics focuses on how individuals, corporations, and societies choose to use the scarce resources provided by nature and previous generations. The two policies in today's economics are …
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showed last 75 words of 790 total
…I think are very helpful for one to better understand how each step in decision-making process can be applied in reality. In addition, the navigation of the simulation provided so many examples that it gave such a wonderful insight in the decision-making process, the scenarios and concepts in today's business environment and economic condition which resemblance very close to reality. Reference: University of Phoenix-eSource-Economics (Retrieved October, 2, 2005). The fiscal policy in economics- Business Journal-August 2005.(Retrieved October 2, 2005).