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1.The ractchet effect of conumption is a response to economic decline. Americans slowly decreased there disposable income and then they had to adapt to the economic decline. As stated people didnt decrease there conumption. They kept buying. Consumers kept durable items longer such as computers. To help the economy though, they still replaced them. This was a factor of the ratchet effect or increase in consumption. With this, labor wages increase during an increase in the economy. U.S. News & World Report, April 23, 20012. Economic impact of on September 11,
Finally a 9% increase in economics and finance. 7 million people buy a house in america. This one factor impacted the economy after September 11, 2001. New York Times , September 27, 20015. The residential houses are the best source of accumulating personal wealth. People are scared of taking planes due to the attacks and future attacks. Higher education has a lot of benefits. A college degree coincidently makes more money and therefore they can drive better and more expenseive cars. The younger people drive acuras, while older people drive cadillacs. Houses cost so much, and personal wealth defines how much they can afford. Starting salaries of new college are said to increase from last year. One benefit to higher education is driving higher luxury cars. The attacks intensified the recession in the economy. If your in the field of computer science, you will start making $52,300.
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