Microeconomics HW 3

PART I

Directions: Write a paper that is two to three pages in length in APA format in which you address the questions below.  Use at least two scholarly sources with references cited in APA format.  Please utilize LIRN to help you get started with your search.  You may visit the Academic Resource Center for a guide on how to utilize LIRN successfully.

1.Can the government always reduce the budget deficit by simply increasing taxes?  Why or why not?  Please explain your answer using the Laffer curve.  In addition, use research and show historical examples to illustrate your answer.  Can the government tax its way out of the current deficit?  With more than $16 trillion in debt, what are some arguments for or against taxation to increase revenue and reduce deficits?

PART II

Review the Federal Reserve Board website.  Identify at least five key pieces of data you would use in microeconomic decision making on the Web site.  Submit a one page paper for each link and a synopsis of what data that link provides to economists and for what it may be used.  Your paper should be 2 to 3 pages in length.

PART III: Reflection Essay

Write a one page paper on what you found most useful in this module.  What was the biggest take-away lesson you learned and how will you apply it to your own individual decision making?