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Learning and earning

The quality of American education remains a challenge. The global economy is dominated by those nations with the greatest number of “knowledge workers:” people with specialized knowledge and skills like engineers, scientists, doctors, teachers, financial analysts, and computer programmers. Furthermore, American students’ reading, math, and critical thinking skills are less developed than those of their peers in other industrialized nations, including small countries like Estonia.

The Obama administration sought to make higher education more accessible by increasing the amount that students could receive under the federally funded Pell Grant Program, which, by the 2012–13 academic year, helped 9.5 million students pay for their college education. Obama also worked out a compromise with Congress in 2013, which lowered the interest rates charged on student loans. However, college tuition is still growing at a rate of 2 to 3 percent per year, and the debt burden has surpassed the $1 trillion mark and is likely to increase. With debt upon graduation averaging about $29,000, students may find their economic options limited. Instead of buying cars or paying for housing, they may have to join the boomerang generation    and return to their parents’ homes in order to make their loan payments. Clearly, high levels of debt will affect their career choices and life decisions for the foreseeable future.

Many other Americans continue to be challenged by the state of the economy. Most economists calculate that the Great Recession reached its lowest point in 2009, and the economy has gradually improved since then. The stock market ended 2013 at historic highs, having experienced its biggest percentage gain since 1997. However, despite these gains, the nation struggled to maintain a modest annual growth rate of 2.5 percent after the Great Recession, and the percentage of the population living in poverty continues to hover around 15 percent. Income has decreased ( [link] ), and, as late as 2011, the unemployment rate was still high in some areas. Eight million full-time workers have been forced into part-time work, whereas 26 million seem to have given up and left the job market.

A graph labeled “Median Household Income in February 2013 Dollars” shows median household income trends. The y-axis displays income amounts, ranging from $47,000 to $58,000; the x-axis displays years from January 2000 to January 2013. The curve shows a general downward trend over time.
Median household income trends reveal a steady downward spiral. The Great Recession may have ended, but many remain worse off than they were in 2008.

Lgbt rights

During Barack Obama’s second term in office, courts began to counter efforts by conservatives to outlaw same-sex marriage. A series of decisions declared nine states’ prohibitions against same-sex marriage to be unconstitutional, and the Supreme Court rejected an attempt to overturn a federal court ruling to that effect in California in June 2013. Shortly thereafter, the Supreme Court also ruled that the Defense of Marriage Act of 1996 was unconstitutional, because it violated the Equal Protection Clause of the Fourteenth Amendment. These decisions seem to allow legal challenges in all the states that persist in trying to block same-sex unions.

Questions & Answers

Ayele, K., 2003. Introductory Economics, 3rd ed., Addis Ababa.
Widad Reply
can you send the book attached ?
Ariel
?
Ariel
What is economics
Widad Reply
the study of how humans make choices under conditions of scarcity
AI-Robot
U(x,y) = (x×y)1/2 find mu of x for y
Desalegn Reply
U(x,y) = (x×y)1/2 find mu of x for y
Desalegn
what is ecnomics
Jan Reply
this is the study of how the society manages it's scarce resources
Belonwu
what is macroeconomic
John Reply
macroeconomic is the branch of economics which studies actions, scale, activities and behaviour of the aggregate economy as a whole.
husaini
etc
husaini
difference between firm and industry
husaini Reply
what's the difference between a firm and an industry
Abdul
firm is the unit which transform inputs to output where as industry contain combination of firms with similar production 😅😅
Abdulraufu
Suppose the demand function that a firm faces shifted from Qd  120 3P to Qd  90  3P and the supply function has shifted from QS  20  2P to QS 10  2P . a) Find the effect of this change on price and quantity. b) Which of the changes in demand and supply is higher?
Toofiq Reply
explain standard reason why economic is a science
innocent Reply
factors influencing supply
Petrus Reply
what is economic.
Milan Reply
scares means__________________ends resources. unlimited
Jan
economics is a science that studies human behaviour as a relationship b/w ends and scares means which have alternative uses
Jan
calculate the profit maximizing for demand and supply
Zarshad Reply
Why qualify 28 supplies
Milan
what are explicit costs
Nomsa Reply
out-of-pocket costs for a firm, for example, payments for wages and salaries, rent, or materials
AI-Robot
concepts of supply in microeconomics
David Reply
economic overview notes
Amahle Reply
identify a demand and a supply curve
Salome Reply
i don't know
Parul
there's a difference
Aryan
Demand curve shows that how supply and others conditions affect on demand of a particular thing and what percent demand increase whith increase of supply of goods
Israr
Hi Sir please how do u calculate Cross elastic demand and income elastic demand?
Abari
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Source:  OpenStax, U.s. history. OpenStax CNX. Jan 12, 2015 Download for free at http://legacy.cnx.org/content/col11740/1.3
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