1. Does the Classical View or the Keynesian View more accurately explain what is happening in our U.S. economy today? Explain.
2. In response to the Great Recession of 2008, Congress and the President passed the American Recovery & Reinvestment Act of 2009. This stimulus package was estimated to inject $831 billion into the U.S. economy.
3. In light of what is discussed in this chapter on fiscal policy, what did the federal government expect would happen to the aggregate demand curve? Do you believe this stimulus package had the desired effect?