Chapter 1 Reflections

What in this chapter made you think about an economic concept differently than your previous beliefs?

Before reading the first chapter, I hardly knew what economics was. I often hear the phrase, "The economy is so bad right now" usually followed by complaints about President Obama. I thought that economics was all about how much money our country was making and about unemloyment rates. I didn't really think about how those could be the outcomes of the decisions people in our economy had made. I didn't know that our economy was about our society as a whole. There's still a lot for me to learn about economics.

What new questions do you have now about the US economy based on this chapter?

I would like to know what kind of goods and services the United States produces for the world.

I want to know how the high quanitity of money would cause inflation and if it causes infaltion, why would a country want to print more money?