Questions:
1) If a nation of Instanbul's Marginal Propensity to Save (MPS) is .4 and its autonomous spending has increased by $4 million over the past 3 months, how much did Instanbul's equilibrium Real GDP change over the same three (3) month period?
2) If the U.S. economy falls back into deep recession in 2013, name three (3) fiscal policy tools may be used to improve economic performance? Please list one benefit and potential danger to using each of these tools.
3) How is monetary and fiscal policy different?
4) If you had total control over the federal budget, what is the first thing you'd do to reduce the deficit? Please support your position with two examples/facts.