Imagine that your team is a group of economic advisors working for the U.S. president. You have been tasked with evaluating the prtesent state of the U.S. economy and making recommendations on how to improve it.
Part 1 Analysis and Recommendations: Explain the present state of the following economic factors and analyze how each affects aggregate supply and demand: Intro .Unemployment .Expectations .Consumer income .Interest rates.
Develop a set of recommendations for the president regarding government spending and taxes based on the economic factors' current state.
The bullets below only have to be answered. Do not exceed 750 words.
• What is the difference between contractionary and expansionary monetary policy?
• What is the intention of each policy under a depression, recession, or robust economy?
• Which kind of monetary policy is more suitable today and why?
• What are the potential consequences of a country having a large overall debt?
• If you were in the position to implement a solution for the country's long-term debt, what will it be and why?
• Who benefits from a tariff or quota? Who loses?
• Why will domestic markets benefit from protectionist trade policies?
• How do protectionist trade policies affect a government's wealth and fiscal policy?