Reference no: EM131153725

PART 1

Redistribution of wealth: What if I were to say this to you? At the end of the term, I'm going to take away points from those students with A's and B's in the course and I will redistribute these points to those students who have C's, D's and F's. This will allow everyone to make a C in the course. What are the issues here? Is this fair? How does this scenario affect those who want to do well? How does it affect those willing to let others do the work for them? How does this "redistribution of wealth" question about your grades relate to income taxes and wealth? How does it relate to health insurance?

PART 2

1. What happens to unemployment, employment and inflation during a recession? Give an example of someone you know who became unemployed: How did it affect their lives? What changes did they have to make? Did anything good come from this situation? How do changes like this affect individuals? How do they affect society in the long run?
2. Why are corporate profits important? What keeps companies from getting "too much" profit?