kingcarrot
09-17-06, 05:50 PM
if everyone in america rounded up the dollar amount on a bill, for example $5.62 would become $6, what sort of effect would this have on the economy?
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View Full Version : round up the dollars kingcarrot 09-17-06, 05:50 PM if everyone in america rounded up the dollar amount on a bill, for example $5.62 would become $6, what sort of effect would this have on the economy? Baron Max 09-17-06, 06:41 PM If you can't figure out such a simple thing as that, then no one could possibly adequately explain it to you. Wow! The questions of some people, huh? ...LOL! Baron Max Roman 09-17-06, 06:42 PM Would anything be rounded down? S.A.M. 09-17-06, 06:48 PM There was an argument about getting rid of the one cent in a similar fashion. Everything less than 5 cents would be rounded down and greater than 5 would be rounded up. Roman 09-17-06, 06:53 PM Technically, if price distribution on such a level was normal, nothing would happen. I don't think current economic theory holds that prices are normally distributed, though. perplexity 09-17-06, 09:04 PM Deleted kingcarrot 09-18-06, 12:47 PM well think of it as tipping. unless the owner would take the money (which would probably happen) it would provide a slightly better living for the common worker. so would the market not be faster because more money would be in the hands of the real spenders, the poor. |