ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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How and why would the line-item veto influence budget reforms and reduce deficits?
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- How is the Social Security system currently influencing the size of the budget deficit? If it is not re-formed, how will Social Security influence the budget deficit a decade from now? Is this a cause for concern? Why or why not?arrow_forwardWhy is getting the magnitude, or dollar size, of the policy change just right the most difficult thing to do when implementing discretionary fiscal policy?arrow_forwardWhat type of fiscal policy would be appropriate to use during a recessionary period? How might this affect aggregate demand, unemployment, and inflation?arrow_forward
- What are two arguements against the stimulus package that was given out because of the American Recovery and Reinvestment Act during the Great Recession.arrow_forwardWhy does a balanced budget increase in spending and taxes increase aggregate demand?arrow_forwardwhy do major events such as wars cause the national debt to increasearrow_forward
- Analyse the various policy measures that a government might have to undertake to deal with and finance a growing fiscal deficit.arrow_forwardBudget deficit is defined as the difference between government spending and tax revenues. As President Clinton once stated, dealing with the budget deficit is simple "arithmetic". We need to cut government spending and increase tax revenues to lower the deficit. 1. If you are one of the policy makers determined to control the federal budget, which federal spending item(s) would you cut? 2. How would you change the tax policy to increase the tax revenue? Would you increase the income tax rate or decrease it to increase revenue (review the Laffer curve and comment on the relationship between the tax rate and and tax revenue)? How would you change the payroll tax? Who should have the burden of tax? Please review the 2018 Trump tax law and Biden administrations tax proposals. Below are two short videos: One supports the tax cuts, the other opposes. Tax cuts will spark growth and employment (Laffer) Six things we'll regret about Trump tax cuts 3. What is the impact of Covid-19 on the budget…arrow_forwardhow does the fiscal policy work?arrow_forward
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