1. Distinguish between discretionary and nondiscretionary fiscal policies. 2. Explain how the built in economic stabilizers work within our US Economy? 3. Assign the correct label to the corresponding events/policy actions that occurred during the 2007-2011 time period. A) Trapp B)2008 Stimulus package C)2010 extension of the Bush Administration tax cuts D)The reduction taxes most Americans paid because they had less income than they would have had. Label each one with the following terms: discretionary fiscal policy or nondiscretionary fiscal policy. And explain why you gave it the response you choose. 4. Explain how economists look at the federal budget deficits and surpluses and national debt. 5. Why might you distinguish between borrowing to rebuild a road and borrowing to increase food stamps. 6. Explain why what deficit spending buys matter in terms of the true burden a national debt will have on future generations