SU_ECO2072_W1_A1_Wyatt_S - Economic Policies and Practices...

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Economic Policies and Practices WEEK 5 ASSIGNMENT 1 SHACARA WYATT
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Budget Plan by Federal Government Effects Increase in spending causes an increase in aggregate demand The Federal Government expects an increase in aggregate supply Increase in employment and taxes Long term debt will incur, resulting in higher taxes and causing the future generation to deal with debt
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New Tariffs and Quotas New tariffs and quotas on all imports will cause higher prices of imports and lower imports outcome in the economy will be protection in all US base industries will be protected. This protection won’t lay off workers and the income of local industries will also be protected GDP growth rate will be maintained. Also the unemployment rate will not increase.
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Loss of Leadership Confidence The public will hold off on spending and the aggregate demand will decrease. Demand decrease causes a decrease in aggregate supply A decline in output will cause people to lose jobs and
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