Decide Whether to Accept an After-School Job You spend many hours every week doing

Chapter 17, Problem 31

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Decide Whether to Accept an After-School Job You spend many hours every week doing school work and helping around your home. You like to go out with your friends on the weekend. You really dont have much spare time. Interest rates are low, and the economy is booming. On your way home from school, you notice a sign in the window of a store that promises a $10 per-hour wage for anyone who accepts a job as a sales clerk. When you ask about the job, the store owner says she will hire you only if you agree towork a minimum of 16 hours each week. Youaccept the job, but youre not happy with thenumber of hours you must work. After youreceive your first paycheck, you go shoppingand find that because of taxes and inflationyour money doesnt go very far. You decideyou really dont want the job so you hand inyour resignation and go back to asking yourparents for money. Explain how this story isrelated to economic problems that take placewhen the Fed tries to move production in theeconomy to exceed its potential.