Columbus believed he had reached Asia when he had traveled less than halfway there because geographical knowledge at the time was limited. They believed if they sailed West they would reach Asia by sea but actually ended up in the Americas. He thought the world was smaller than it actually was.
Consumer spending fell as household wealth dropped.
<h3>What Is an Economist?</h3>
An economist is a specialist who investigates the connection between a society's resources and its output or production. Economists research all facets of society, from small, local communities to large countries and even the global economy. A wide range economic policies, such as interest rates, tax laws, employment programs, international trade agreements, and company strategy, are shaped in part by the professional judgment and research findings of economists.
An economist's responsibilities are immensely varied and include conducting research on economic topics, gathering data through surveys, and analyzing that data using software, statistical methods, and mathematical models. present study findings in reports, tables, and charts; interpret and forecast market trends; provide economic advice to corporations, governments, and individuals; suggest fixes for economic issues; and publish articles for scholarly journals and other media.
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The gulf of Tonkin incident led the United States Congress
to overwhelming approve the Gulf of Tonkin Resolution. This resolution gave
President Lyndon B. Johnson virtually unlimited powers to oppose communist
aggression in Southeast Asia. President Lyndon was also advised on how any
potential war with the North Vietnamese might be fought.
