When the Gov Prints Money

PLEASE DO NOT QUOTE ANY SOURCES IN THE PAPER. Topic: Assume that you are one of six thousand people who live on the small island of Tap. This island is small and can only produce a maximum of six thousand bags of corn a year (ignore technological advances in corn production that are occurring elsewhere in the world). The six thousand bags of corn produced are just enough for the residents since each resident only earns enough to buy one bag of corn a year (a pity since the Tapese really love corn!). The currency on Tap is the US dollar. Now suppose that the government of Tap injects more US dollars into the economy, and the result is that person now ends up having twice the amount of US dollars as he or she did before. Make a logical prediction about prices of corn in the economy, and explain what principle of economics is illustrated in this scenario. My professor gave me the following feedback on an essay I submitted previously (different topic), please use this as a guideline as to what he is looking for in the essay: 1)You need a thesis, A reason for writing. It needs to be clear why you writing what you are writing. It is not enough to say “ International trade has been providing more advantages, which has made a tremendous increase in globalization.” An essay is not simply a bunch of facts put down on the screen, it is a discussion and an “argument” where you are making a point. The point needs to be made in the beginning and everything else needs to follow from that point. 2)Each idea needs to follow from the previous idea and connect back to the main point. Read each sentence you have written ask, how does this connect to the previous sentence? Why am I writing it? And how does it add to the essay?