Q1. Converse the federal budget also relate it to principles of living in an discovery of fiscal policy. Look after your view on whether fiscal policy ought to be expansionary, contractual otherwise neutral right now. Be vigilant to classify the positive reasons based on current macroeconomic conditions as well as describe upon macroeconomic theory for your normative position on needed current fiscal policy.
Q2. When milk has an inelastic demand and beef has an elastic demand. Suppose that a mysterious in bovine infertility decreases both the population of dairy cows and the population of beef cattle by 50%. What will the equilibrium price be?