ECO 202 Module 2 Case Assignment and SLP

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ECO 202 Module 2: Fiscal Policy

ECO 202 Module 2 Case Assignment

According to Okun’s Law, if the normal rate of growth of GDP is 3% and the current unemployment rate is 6%, an increase in GDP growth to 4% would cause unemployment to change by what percentage?

When total output, income, employment, and trade decline for 6 to 12 months, the economy is in what part of the business cycle?

Which has a larger effect on aggregate demand: an increase in government expenditure or an equal sized decrease in taxes? Explain your answer.

To eliminate a recessionary gap, what fiscal policy should the government pursue? Be specific.

Indicate which of the following is expansionary OR contractionary fiscal policy:

ECO 202 Module 2 SLP

The two fiscal policy initiatives that I would lobby for would include Oil and Natural Gas with respect to drilling that would enhance the opportunities for the company for its exploration purposes. I would particularly lobbying for more drilling engagements because drilling for oil and natural gas leads to a higher economic activities that would also provide opportunities to the local and state governments – this would also lead to benefits like addition of jobs, revenue, rapid industrialization and growth for the concerned regions……………. 

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