Questions and Answers on the Fiscal Policy Choices of the US Government

2274 Words Feb 5th, 2018 9 Pages
What are the three major categories of revenues for the federal government? Please comment on each and indicate their relative importance to each other. Relative importance can be indicated by dollar amounts, percent of total revenue or expenditure or, though less informative, by ranking.
2. What are the three major categories of expenditures for the federal government? Please comment on each and indicate their relative importance to each other. Relative importance can be indicated by dollar amounts, percent of total revenue or expenditure or, though less informative, by ranking.
3. Discuss the current level of the Federal debt and whether or not you are concerned about this debt and why. I addition, right now and for the next year, (this is currently a very hot discussion among economists), would you rather the Federal government focus on decreasing the deficit or concentrate more on decreasing unemployment?
4. Assume you are the Chief Economic Advisor to the President of the United States and the President has asked you to review the deficit reduction proposals that were submitted by his commission (see link above). Choose the two commission recommendations you agree with the most and write an explanation to the President as to why those two should be enacted into law. Please be detailed rather than general in your re commendation.
5. Economists classify macro-economic indicators as leading, lagging, or coincident. Define each classification and give two examples…
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