Q.1)?(Macro News Story Discussion or Course-related Topic of Your Choice)
?Ron Willingham suggests that you pick out one or two highly successful and respected
salespeople and study their behaviors, values and attitudes and learn from them. ?The article above?identifies the greatest salesmen of all time according to a CBS News report. ?In a minimum of one?paragraph, choose the individual who you feel characterizes the qualities of a successful salesperson and?what lessons you learned that you can apply to your personal success.
Recent U.S. Fiscal Policy11 unread reply.11 reply.
The American Recovery and Reinvestment Act of 2009 (also known as the “Stimulus” bill)
In early Spring of 2009 Congress passed a significant fiscal stimulus (or “expansionary” fiscal policy) act (the “ARRA” referred to above).? It amounted to $785 Billion in intentional (or “discretionary”) government spending increases and tax cuts, passed as a response to the economic downturn which hit in 2008.? The bill was controversial because the tax cuts and spending increases mean that the government budget deficit increased greatly in the worst years of the “Great Recession,”? 2009-2011.? Increased deficits added to the national debt.?
In some ways the U.S. fiscal response (stimulus) was quite different from many countries in Europe, some of which turned toward “austerity” during these years – meaning increased attempts to cut government spending, balance government budgets, etc.? Some European governments continue to follow this path.?
Question:??Was the U.S. stimulus package effective in reducing the severity of the downturn?? How effective? (Or how ineffective?) You might want to track down a source or two on the question.?
In any case here’s a chance for you to think about the logic (and usefulness as well as downside) of expansionary fiscal policy.? What did they try to do, and why?? What were its problems and/or benefits?
(A)? How has the federal budget deficit changed in the past year or two, and how big is it expected to be for the current fiscal year??
(B) Is the current federal budget deficit too high?? For a Keynesian defense of continued budget deficits see a 2013 column by Paul Krugman in the New York Times.
Do you think the federal budget should be cut as soon as possible (that is, government spending cut and/or taxes raised)?? If so, is it because you don?t think that government spending cuts or tax increases would have a multiplier effect (leading to slowdowns in GDP growth larger than the size of the deficit reductions)?? Or do you think other spending increases would quickly offset the cuts in government spending? Do you think balancing the budget should take higher priority than worrying about possible increases in cyclical unemployment? (Or do you find Krugman’s perspective persuasive?) ?Explain your reasoning, one way or another.
Q.4.)?EXERCISE 1. IMAGE-1?
? ? ? ? ? EXERCISE 3. IMAGE -2?