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Economics is the social science that studies the production, distribution, exchange, and consumption of goods and services. The study of economics focuses on how individuals, corporations, and societies choose to use the scarce resources provided by nature and previous generations. The two policies in today's economics are none other than the Fiscal and Monetary Policy. Although they both deal with economics you could not find any stranger of a pair of opposites than these. The …

…employment rate, it would have been a more devastating depression to the economy. To prevent this from occurring, Truman set-up the Economic Council of Advisors in 1946, and to this day they still meet with the President. Also the full Employment Bill was signed in January 1945, giving the right to be employed. The 1950's brought automatic stabilizers such as Social Security and unemployment. These actions led to a great decade of prosperity of the American people.