Hi I need help on my macroeconomics homework. I have typed out all the questions and attatched all the articles neccesary to do the questions. 🙂
9. Read Fed Chairman Ben Bernanke’s semiannual monetary policy report to Congress from July 17, 2012.
a.) Summerize Bernanke’s assessment of recent GDP growth and labor market conditions
b.) Summarize Bernanke’s analysis of recent trends in:
i. the household sector (household spending and housing):
ii. the business sector (investment):
iii. the foreign sector:
c.) Summarize the FOMC’s projections for GDP growth and unemployment over the next few years (what the projections are and why they have those projections)
d.) Summarize Bernanke’s assessment of inflation trends so far in 2012 and his prediction for inflation for 2012-2014 (the PCE is like the CPI)
e.) Explain the two major risks to economic forecasts that bernanke outlines.
f.) Explain the balancing act that the FOMC is trying to perform between short-term and long-term objectives (why is Fed using massively accommodative policy now, but will ultimately have to remove this accommodation at some point?)
11. Read the article “Stimulus Added Jobs – But Not Enough.“
a.) At the time of this article, approximately how many jobs had the Obama stimulus packages created/saved? Why might these plans still be viewed as unsuccessfull?
b.) Describe the components of Stimulus Round 1.
i. Explain the demand side impact of these components.
ii. Explain which components might also have a supply side impact
iii. Explain which components are believed to be the most successful and least successful.
c.) Describe the components of Stimulus Round 2.
i. Explain the demand side impact of these components.
ii. Explain which components might also have a supply side impact
iii. Explain which components are believed to be the most successful and least successful.
b.) Describe the components of Stimulus Round 3.
i. Explain the demand side impact of these components.
ii. Explain which components might also have a supply side impact
iii. While the actual impact has been unclear to this point, explain which components you believe are likely to have been the most successful and leas successful.
13. Read the article “Obama’s tax record” and explain Obama’s tax policies for:
a.) Low- and middle-income households:
b.)High-income households:
c.) Businesses:
d.) The bottom line:
17. Read the article “Deficit helped by better economy and expiring stimulus.“
a.) How did the 2012 budget deficit compare to 2011 in dollar terms and as a percentage of GDP? What caused this difference?
b.) How does federal tax revenue compare to the historical average? Explain how automatic and discretionary fiscal policy can explain this discrepancy in government revenue (based on lectures and previous articles)
c.) How does federal government expenditure compare to the historical average? Explain how automatic and discretionary fiscal policy can explain this discrepancy in government expenditures (based on lectures and previous articles)
19. Read the article “National Debt: Why Entitlement Spending Must Be Reined In.“
a.) Explain the reasons listed for why entitlement spending needs to be reformed
21. Read the article “National Debt: Why Tax Revenue Has To Go Up.”
a.) Explain why the U.S. cant simply inflate its way out of debt
25. Read the article “Forget Washington: Here’s how we’d fix the economy.”
a.) Explain the etitlement reforms suggested by the authors.
