1. The current administration has implemented tax breaks for both individuals and businesses through the ‘Tax Cuts and Jobs Act of 2017’. This will likely increase our deficits/debt further. Is this prudent Fiscal Policy? Explain.
Almost every item that we use in our day to day lives, has some component of ‘International Trade’ associated with it. For example, Colgate toothpastes are generally ‘Made in Mexico’, marketed by Colgate Palmolive, New York. Countless items are ‘Made in China’, ‘Made in Malaysia’, ‘Made in India’, ‘Made in Bangladesh’, ‘Made in Taiwan’, …
2. Do you feel we should continue to use items made in other countries? How do your arguments tie-in with ideas of trade/comparative advantage, as put forth by David Ricardo?
3. With Donald J. Trump as the current President, what is your take on the economic impact of a Trump presidency, on our trade relationships with other countries? (You can also discuss the impact of current tariffs and trade issues, as well as the impact of the Coronavirus/COVID-19 pandemic.)
4. Under ‘Content’ click on ‘Assignment Video’. Go through the video.
a) Is it authentic? Why, or why not?
b) Does it reasonably well predict the situation our economy, and the global economy, is in now? Please DON’T give an off-hand answer. Think critically, analyze the scenarios, research the facts, etc., and THEN answer.
c) Any other comments you would like add in your response, from a macroeconomic perspective!
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