Problem
As we look at positive externalities and negative externalities that impact the economy, we can assess the impact on the macroeconomy of the U.S.
Answer the following questions:
i. Identify how the "New Deal" affected the U.S. macroeconomy.
ii. Discuss how the U.S. economy in 2008 differed from the U.S. economy during the "Great Depression."
iii. Describe the point on the Production Possibilities Curve that the U.S. economy was operating at in 2008.
iv. Identify how international trade affected the U.S. economy during the "Great Recession" in 2008?