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Macro Problem Set 10

Macro Problem Set 10 - Problem Set 10 1 a Sequestration is...

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Problem Set 10 1. a) Sequestration is automatic spending cuts. It is a deficit reduction and it has to do with the “crowding in effect.” b) The democratic view of sequestration is that these spending cuts are more hurtful than helpful. They say that these spending cuts will increase crime and other dangers. The democrats are trying to spread the word about this and they hope that with this, maybe the budget cuts will be changed. c) The republican view of sequestration is that it is helping the economy. The republicans say that even with the budget cuts, Americans will not notice much of a difference. This is different from what the democrats feel because the democrats say that the difference will be less safety. The republicans see this change as a resolution that will help the economy rather than hurt it. 2. a) Furs and wampum, cash crops such as tobacco or rice, unofficial coinages, and paper currencies of various kinds are four items which were used as money during the colonial period.
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