1. Discuss how increased unemployment, increased inflation, and increased interests rates would each affect the economy with regard to the concepts of market activities (firms selling and households buying) and the tradeoffs people make. Then discuss how the global market and trade might wind up being affected.
2. Discuss the effect taxes on goods have on firms and consumers in the market. If you worked in tax collection and wanted to use taxes on goods to raise revenue for the government’s general fund, would you impose a large tax, a small tax, or something in between? Why?
3. Should we restrict trade? Argue your point while acknowledging job protection, national security, and whether consumers or producers are better off as a result of trade.