In the CNN video, Sarlin interviews a journalist who explains the reason people pay feel worse about the economy, even when it is considered by all measures a "good" economy. What is this reason? People feel worse about the economy because they want to be in the top 1% or top 10% of the income ladder; expectations of wealth and status are so high that people are disappointed by their unrealistic expectations The fact that wages have been stagnant for forty years does little to offset these wage increases and people's ability to find affordable housing and finance their education. People will complain no matter what is happening with the economy so it's best to ignore them and look at the economic data. Even though wages are up, the fact that inflation is still high makes it difficult for many people to feel like the

In the CNN video, Sarlin interviews a journalist who explains the reason people pay feel worse about the economy, even when it is considered by all measures a "good" economy. What is this reason? People feel worse about the economy because they want to be in the top 1% or top 10% of the income ladder; expectations of wealth and status are so high that people are disappointed by their unrealistic expectations The fact that wages have been stagnant for forty years does little to offset these wage increases and people's ability to find affordable housing and finance their education. People will complain no matter what is happening with the economy so it's best to ignore them and look at the economic data. Even though wages are up, the fact that inflation is still high makes it difficult for many people to feel like the

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter15: Fiscal Policy

Section: Chapter Questions

Problem 10SQP

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