Question

You have just been elected president of the United States, and the present Chair of the Federal Reserve Board has resigned. You need to appoint a new person to this position, as well as a person to chair your Council of Economic Advisers. Using your knowledge of macroeconomics, identify the personal characteristics and the views on macro theory and policy you would want your appointees to have and implement.   Remember, the economic health of the entire nation and solution to keeping the economy growing will be impacted by this decision.

As you know, during the Great Recession, the Fed proposed a number of "bail out" measures to address the “great recession”. In the second part of your paper, indicate why or why not you would recommend that your new appointee use similar measures if this situation arises again. Should the Fed have a bond-buying program? Identify any new policies that you would like your candidate to follow.

Answer 1

The American Economy is well equpped with resources and human resource, only barrier is channalization of funds and human resources. Any economy can be disastrus unless if it not taking care of all the people of the country. While the US economic empire is build up on African Slaves, and they are the least benefited people in the US society.

In micro economics the basic units are families or small traders. When the small unit of a Economic system benefits, we are strengthening from the root.

In other words the being the basic unit of a society is the family, we are preparing a strong net work of piramidical economic system, the piramidical structure is well built for durability, and known for its stregnth. The Micro Economist are know for the minute details of an economy, it will benefit the society in a large scale and will reach to the whole of society, just like a little cubicle of a net it will support and co-connected wth a large body.

Just like a living biological body where each living cells are inter connected and supporting each other, micro economics is being taking care of each other, and will be benefit to all.

During the recession time, an economist must think of the last unit of an economic system, the last man always will be the least benefited person in a Caspitalistic system. The economic system,if it is a welfare system it sould be thinking of the last man, may be a poor marginalized farmer, may be a poor artisan, may be anyone who struggle to survoives to make both ends meets. Even if we feels that the current measures to correct the economy are little harsh and difficult to adopt, it will benefit in long time.

The person who is being appointed should be a good family man who taking care of not only his family, but a responsible neighbour too, so that he will look around who are the people around his locality, to whom may need suppot and care.

Conculsion:

The Micro Economic system by taking care of all stake holders we are moving towards a well eqiupped, sound financial system. When the economic system is sound and doing justice to all it will benefit the society in a positive manner, it will improve the positive productivity of the whole nation.