Ina De Inza Niemeijer

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Hometown:  La Pampa, Argentina

Current Employment/Job Title: Human Resources Coordinator at Renewable Energy Group, Inc. in Amsterdam

Fantasy Football Strategies

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Fantasy Football Strategies
Answer: 

Thanks for your ‘Ask an Economist’ question.  I will provide some thoughts, but may not be able to answer it completely to your satisfaction given I do not fully understand how your fantasy league operates.  For example, you do not explain how players get classified as A1, A2, B, and C players.  It is also not clear to me what you mean by ‘give up a draft pick’ to keep a player (i.e., do you mean exchange one draft spot for another versus actually lose a draft pick and a player?).  Another thing you do not make clear is your league’s rule for starting players by position

Roger Underwood

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Roger Underwood has been selected to receive the 2018 Alumni Medal Award. The Iowa State University Alumni Association established this award in 1948 to recognize Iowa State University alumni for long loyal service to the university through alumni-related activities. It is the premier award given to alumni by the ISU Alumni Association.

The university-wide awards ceremony, sponsored by the Alumni Association, will take place on Friday, Oct. 26, 2018, during the ISU Honors & Awards Ceremony. 

Since the U.S. has "fiat" currency, why does the Treasury sell securities?

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Since the U.S. has "fiat" currency, why does the Treasury sell securities?
Answer: 

The sale of Treasury securities is the government's way of borrowing funds from the public. When the government sells bills, notes, and bonds, the public, the investors, become the government's creditors. The Treasury pays interest on its loans until they come due and then pays off the loans. You ask, why not print the money directly? Because, the US central bank is independent of the Treasury and it is the former that is charged with controlling the money supply, not the Treasury. 

Rami Maysami

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Rami Maysami provides students with opportunities for success

Rami Maysami knew he wanted to become an educator from an early age. Drawn to the American entrepreneurial mindset as well as to the collaborative culture and democratic system, he emigrated from Iran to the United States to pursue his educational career.

computer models that use "functional economic areas" framework of regional modelling

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computer models that use "functional economic areas" framework of regional modelling
Answer: 

Any subnational economic modeling includes two challenging components: data and structure.  Detailed subnational data for the US is automatically suspect because input-output tables are not collected at any subnational level.  Interstate (domestic) trade is also a problem.  (A small price to pay for the interstate-commerce clause: no state or municipal-level customs clearance => no data).  The Commodity Flow Survey is the only source for domestic trade and there are significant problems with these data.  They are not designed to measure source-destination trade a

How was the decision not to pay down the U.S. debt made post WW2?

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How was the decision not to pay down the U.S. debt made post WW2?
Answer: 

To begin with, the premise of this question is somewhat mistaken.  As was true in earlier wars, WW II did cause a large expansion of federal government debt both absolutely and relative to GDP.  Indeed, the debt/GDP ratio reached about 94 percent at the end of WW II.  Following the war, however, the burden of debt fell to less than 26 percent of GDP by the mid-1970s.  It has risen since then, but that is a different story.

 

Is a maximum wage viable?

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Is a maximum wage viable?
Answer: 

I am not sure there is any deep reason why a government would want to set a cap on wages. What purpose would it serve, other than to curb income inequality by lopping off the top rungs of the ladder? If that is desirable, then there may be other ways of achieving the same goal such as taxation. And who is to say that what athletes or entertainers earn is "fair" but what a CEO earns is not?

Why personal finance strategies are not (or are) beneficial on a larger economic scale?

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Why personal finance strategies are not (or are) beneficial on a larger economic scale?
Answer: 

Take a simple textbook example due to Keynes. If you are spending beyond your means, a financial advisor may recommend some austerity on your behalf: ask you t cut spending, pay off your debt, and stay within your means. At the level of a country, the same austerity can be devastating (think Greece!) as belt-tightening by all would reduce demand and reduce employment causing further income losses.

What if I'm not great at "real math"?

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What if I'm not great at "real math"?
Answer: 

You are correct that modern economics requires a high degree of facility with mathematics, including probability and statistics.  The requirements for mathematical proficiency will vary somewhat from program to program.  That said, economics also requires an interest in and keen eye for the world around us, important policy problems and human behavior.  I hope that the requirement to achieve a level of mathematical proficiency would not put you off of further study of economics, if you find these uses of economic reasoning interesting and appealing.

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