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The Penny: A Benefit To The Economy

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When people take away the penny the cashiers that pay the consumers would not be able to pay the right amount of money.The the penny is a benefit to the economy because without the penny we can’t pay the right amount of change to the people.The penny is a big thing because it takes up a 5th of our money tax.
In other words i think getting rid of the penny would be a big cause of money raised then the buyers and everyone else will start losing their jobs and homes.
For the consumers when they pay for things they have to pay tax.Tax is somthing when you buy something from the store and they make you pay the tax.When you get money back you won't have or
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341 Words | 2 Pages

To begin with, Alan S. Blinder, the author of “Abolishing the Penny Makes Good Sense” argues that pennies should be abolished. He effectivity builds this argument by using plain folks appeal, logos, and bandwagon appeal to support his claim. In addition, the first technique the author uses to argue about abolishing pennies is plain folks appeal. In the text he states “If it’s not worth the time of an 8 year old to wrap pennies, why does the U.S government keep producing the things?”

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489 Words | 2 Pages

Another piece of evidence I have is that in Canada the Canadian senate committee held a meeting on whether the penny should be spared and if they did think that it should be spared to come forward to say why. No one came forward and said why the penny should be spared. My last piece of evidence is that already some countries have already the retired the penny. Those countries made a smooth transition in retiring the penny and that the people were okay with it.

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551 Words | 3 Pages

The penny does have some good and it isn 't the only coin that cost more to produce than its worth. The nickel is 9.4 cents to produce while the penny is 2.4 cents to produce. People say if the nickel is more to produce than its worth why don 't we get rid of the nickel too, well the nickel you can buy more stuff with and the penny has less value and can 't really help you buy anything. Yes, the penny does help schools raise money for charity,Washington middle raised 3000 dollars in a penny drive last week.(source 3) If washington middle school raised 3000 dollars that would equal to 4200 dollars wasted in the

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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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511 Words | 3 Pages

First, over 700 million dollars is being lost per year just because of the time wasted counting pennies! Imagine you want to buy a nice TV that costs a thousand dollars and you’ve been saving up pennies for awhile now and you think you have enough. You get to the checkout aisle and you sit there for 30 minutes counting all your pennies making a bunch of people angry because they have to wait in line behind you while you count them all. You could get out of that store way faster if you counted nickels or quarters instead of all those pennies.

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514 Words | 3 Pages

Pennies have been a huge part of our history, and has also had a big impact on us. The penny represents strong will, positivity and pure energy. Abraham Lincoln was the first historical figure to the US so that is why his face is on the penny. But the penny is destroying our economy.

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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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841 Words | 4 Pages

This scandalous coinage, also known as the penny, is a lousy excuse for a currency and should be abandoned. The penny costs the American people precious time and money as they attempt to scour through their purse or wallet just for a 1 cent coin, which is having devastating effects on the economy. The obvious solution to this ordeal is removing the penny and rounding all prices to the nearest nickel. On the other side of the argument, people view this as an opportunity for businesses to charge extra for a product or service that you originally would of although, there is simply no hard defining evidence that this would even occur. With everything considered, the penny is a nuisance to society as a whole, we need to abolish it before it creates

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539 Words | 3 Pages

The colonists wanted representation when it came down to being taxed, but the British government would not allow it. The government wanted full control over the people, so they made sets of acts and laws that were placed on taxation. For example, the Stamp Acts of 1765. These acts taxed all papers, pamphlets, newspapers, and cards. The Townshend Acts of 1767 were also a large part of taxation.

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“ 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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279 Words | 2 Pages

Through my research I have come to the conclusion that the penny should not be ban. If we ban the penny prices will go up, future generations won't know about the unique culture with the penny, and there can be ways to fix the penny so we can keep it. To begin, we need to keep the penny because if we don’t prices will go haywire. There will be price rounding which can not be done fairly (Mancuso).

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668 Words | 3 Pages

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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1519 Words | 7 Pages

Battle of Waterloo Many leaders and high ranking officials tried to rule and conquer the lands throughout Europe as history has shown us. Napoleon Bonaparte, became one of the greatest rulers when he took control of France in November 1799. History shows that Napoleon was a ego driven tyrant that only wanted power and glory for himself. He was never one to listen to advice or use intelligence assets correctly in battle. As the Battle of Waterloo will show how the practice of quick, poor, hasty, decision making, and not using intelligence appropriately will cause defeat is battle.

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ROLE OF MONEY IN MACROECONOMICS 1. Introduction Money can be seen as the medium of exchange which is acceptable while transaction is being undertaken between two parties. Some of the common forms of money are: - Commodity money: This is when the value of the good represents its value in terms of money like gold or silver. - Fiat money: This is when the value of the good is less than the value it represents - Bank money: It is the accounting credits that can be used by the depositor Money serves a variety of crucial functions in the economy and this is why it has gained an unparalleled influence in the matters of economy at micro as well as macro levels. Some of the features of money that make it so important for any economy are as follows:

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