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How Do Pennies Affect The Economy

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Around the world, there are billions of pennies and every single one of them has basically the same format, shape, and size. The penny is usually the smallest denomination within our currency system. People around the world uses pennies to help buy things that humans would need to have in life. Without the existence of pennies, it would make our currency become worse and less organized also it could really drop our market economy or just the economy itself. In general, pennies doesn’t actually get dirty; the copper used for pennies is made up mainly of copper atoms. But when they join with other atoms, like oxygen in the air, they form molecules. “In the year of 1837 and so forth, the pennies were made of copper, tin and zinc. Now, current
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That is why I am supporting the retirement of the pennies. With me supporting the retirement of the penny I have some evidence on why the penny should be retired. One piece I have is in the article it states that it costs 11 million dollars to make pennies in other countries. That it is a lot of money being used even though the penny doesn’t really get used, it just gets pushed to the side and never gets used. They could be doing more with the 11 million dollars.

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Franklin Roosevelt was a very influential and important president in American history who had an immense impact on the American economy and social policy during the 1930’s and 40’s and throughout the future of America, he also shared some ideas with the author John Steinbeck. He idolized Theodore Roosevelt, and took great inspiration from him. He has served as president for longer than any other president in history, serving for three terms instead of the usual two that is generally accepted as the maximum amount of time that a president can serve. He drove America out of the great depression and through the second world war.

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783 Words | 4 Pages

All in all the penny should not be printed anymore because they cost more to make then they have value, then they are a waste of time as in counting the, and finally reason is that pennies are losing the government money. A reason pennies should not be minted is because the penny costs more to make then it has total value. As stated in the text,” Because the penny costs more than a cent to produce, the Treasury loses more than $100

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277 Words | 2 Pages

The nickel would cost more to produce. According to wall street journal the cost to make a nickel is 8 cents. But it only takes 1.7 cents to make a penny “While many people are aware that it costs more

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520 Words | 3 Pages

The penny helps charities raise money, due to people being more willing to donate them rather than nickels. Also, customers won’t have to be overcharged by purchasing merchandise due to the rounding system. Moreover, the low-income Americans won’t have to hit rock bottom, thanks to saving the

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All the Acts have an impact on the economy; however, in my opinion, the Federal Reserve Act plays an important role than the other Acts. It is the oldest Act compared to the others without any other Act and effective. They set the federal discount rate; which enables control to the availability and stability of money and banks in good standing can borrow money at discounted rate. So the Federal Reserve is responsible for the money supply. During the recession, they can lower the interest rate to stimulate the economy, making it favorable for banks as well as individuals to borrow money.

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The penny, serving as the United States' lowest denomination, should not be abolished. Pennies are often ignored, or regarded as inconsequential in the grand scheme of life. However, considering the ties between the public's perception of currency and their confidence in the American economic system, it is clear that the penny is indispensable. It is both a vital part of economic transactions and a reminder of American history. The penny represents the metaphorical golden age of the United States.

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521 Words | 3 Pages

First, pennies should be eliminated because of how much it cost make them. For example, “taxpayers lost 60.2 million dollars on the production and distribution of the coin. Many people are saying that the number of cost for the penny could increase in the upcoming years. Also,”the economy has changed so had the value of the coin.” But the penny is worth too little for for today's economy.

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558 Words | 3 Pages

The penny is perhaps one of the most historical, and mass produced items in our country. To remove these precious objects from our economy would be illogical and unbeneficial. Although many people support the idea of abolishing the penny, it should truly be kept in our economic system due to it’s power in numbers, interesting history, and America’s negative future if it is no longer minted. Together, pennies can be very powerful in certain situations. “Washington Middle School hosted it’s annual

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841 Words | 4 Pages

The complete waste of time and money spent producing these pennies just to be forgotten in the couch cushions is astounding. If every penny is 1.8 cents to produce than the government is giving away 800 million USD every single year. The same article says, “...10 million new useless items punched out by government workers who could be more usefully employed tracking counterfeiters.” In other words, the government isn’t only wasting money on penny production but, also a working staff. U.S. currency could be more protected if it wasn’t for the pesky penny.

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701 Words | 3 Pages

“ The U.S. is among the last of the industrialized nations to abolish the peskiest little bits of coinage” (Source C). More and more counties will soon join in on the laughter as they dismantle their low value coins. It would be a different story if we used the pennies. Only about one-third of the pennies are in circulation, the other two-thirds of them are hiding in our chair cushions (Source C). Not only is the government losing money from the missing two-thirds, but it is also wasting money on workers.

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895 Words | 4 Pages

The United States of America was in its lowest period when bill Clinton was elected on November 3, 1992 which made him in a critical situation and in front of a huge responsibility. His first and main correctional act is reducing the federal budget deficit which was the largest in American history ($290 billion). In fact, he started working on that with implementing higher taxes for the wealthy people and lower for the poor, reduction of tariffs and programs to increase federal government efficiency. According to the appendix A, President Bill Clinton’s policies were successful after moving from a $290billions federal deficit in 1992 to a surplus of $236 billion in 2001 when he left the presidency. The benefits were used to pay the national debt.

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Argumentative Text Essay In the book Nickel and Dimed, written by Barbara Ehrenreich, the author argues how challenging it is to live in a life of poverty. To prove to herself as well as others that this statement is accurate, she makes the decision to experience this lifestyle firsthand by taking low-wage jobs and recording the results. Ehrenreich took on jobs including a maid service, waitressing, and assisting the nursing home to make enough money for a place to sleep and food to eat. The work’s central argument is the fact that minimum and low wage workers face a myriad of difficulties in getting by in America; they receive very low pay, harsh treatments from their employers, and the inability to have an actual life.

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When the long lasted Vietnam war ended in April of 1975, more than five thousands of Americans had been killed. Years after, American still suffered from far-reaching post-war consequences. The Vietnam War has affected the U.S. economically, socially, and politically. First, the war decreased the U.S. economy.

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But on the other side, retailers could be aware of this and bring all their prices down to the lower round and sell them cheaper, which benefits the consumers. Supporters of the penny say we should keep the one cent coin but simply make it cheaper. (Source 2) But if we cut out the penny entirely, we can save even more. A near useless coin can be eliminated and we won't need to spend nears as much money making

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