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Old 06-06-2007, 01:09 AM   #16
boozehound
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Default Re: OT: Econ essay/test

Quote:
Originally Posted by poorlilrich
yep

... tonight is going to be a long night

The country is the US.
shoulda studied during the semester buddy. nuts to you
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Old 06-06-2007, 01:09 AM   #17
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Default Re: OT: Econ essay/test

No offense but you're asking some pretty elementary questions.
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Old 06-06-2007, 01:12 AM   #18
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Default Re: OT: Econ essay/test

Quote:
Originally Posted by poorlilrich
I know its the right answer

but how does rising interest rates lower inflation?

people invest more, so ...

Increasing the interest rate will make people invest more and spend less. This means there is less money flowing around in the economy, which will lessen inflation.

If interest rates decreased, more money would be in the economy. Prices would continue to rise with no real gain in wealth. Inflation is more likely in this situation.
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Old 06-06-2007, 01:15 AM   #19
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Default Re: OT: Econ essay/test

Quote:
Originally Posted by sydneyking
No offense but you're asking some pretty elementary questions.

We spent our whole time watching videos like Enron and Dotcon ... I don't ever remember talking about that stuff. (except for inflation and unemployment)
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Old 06-06-2007, 01:16 AM   #20
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Default Re: OT: Econ essay/test

Quote:
but how does rising interest rates lower inflation?


Seriously: textbooks are for reading, not for wiping your ass.
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Old 06-06-2007, 01:19 AM   #21
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Default Re: OT: Econ essay/test

Quote:
Originally Posted by sydneyking


Seriously: textbooks are for reading, not for wiping your ass.

Teacher said she felt the textbook was inadequate or some **** so never assigned us anything from it.
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Old 06-06-2007, 01:21 AM   #22
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Default Re: OT: Econ essay/test

Quote:
Originally Posted by poorlilrich
Teacher said she felt the textbook was inadequate or some **** so never assigned us anything from it.
You gotta love those teachers that have to do everything "their way" because the institutional methods are "inadequate."

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Old 06-06-2007, 01:36 AM   #23
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Default Re: OT: Econ essay/test

another "elementary" question

I know the US doesn't use the Gold Standard, but what percentage of gold is our money backed by?
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Old 06-06-2007, 01:45 AM   #24
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Default Re: OT: Econ essay/test

Quote:
Originally Posted by poorlilrich
another "elementary" question

I know the US doesn't use the Gold Standard, but what percentage of gold is our money backed by?

Wow, you really need help....God be with you for your test.
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Old 06-06-2007, 01:52 AM   #25
poorlilrich
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Default Re: OT: Econ essay/test

Quote:
Originally Posted by wang4three
Wow, you really need help....God be with you for your test.

This IS the test. I rather have a multiple choice test than this 8 page essay/test crap.
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Old 06-06-2007, 01:57 AM   #26
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Default Re: OT: Econ essay/test

If this is the test, then wouldn't what you're doing be considered cheating??? Sorry, I'm in a dick mood. LOL
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Old 06-06-2007, 01:58 AM   #27
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Default Re: OT: Econ essay/test

Quote:
Originally Posted by poorlilrich
another "elementary" question

I know the US doesn't use the Gold Standard, but what percentage of gold is our money backed by?

None, they stopped backing the dollar with Gold after The Great Depression (I believe.)

Seriously, check out a Macro Economics textbook.
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Old 06-06-2007, 02:00 AM   #28
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Default Re: OT: Econ essay/test

Quote:
Originally Posted by JJCollector
If this is the test, then wouldn't what you're doing be considered cheating??? Sorry, I'm in a dick mood. LOL

No

It's a friecking(sp?) 8+ page essay ... You are supposed to get help from outside sources.
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Old 06-06-2007, 02:02 AM   #29
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Default Re: OT: Econ essay/test

Quote:
Originally Posted by ALBballer
None, they stopped backing the dollar with Gold after The Great Depression (I believe.)

Seriously, check out a Macro Economics textbook.

Since no one uses the Gold Standard anymore, the whole world's economy is driven by speculation?
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Old 06-06-2007, 02:03 AM   #30
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Default Re: OT: Econ essay/test

dood...use your textbook if you have it.
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