1. The previous administration had 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. 2. The Federal Reserve (FOMC) had been increasing 'interest rates' (Federal Funds Rate) since early 2020, as part of Monetary Policy. This was true till the outbreak of the COVID-19 pandemic. Currently the 'Fed' is planning to increase interest rates at least on three occasions in 2021-2022. Do you think the raising of interest rates in early 2020, and in 2021-2022, to be sound Monetary Policy decisions? Explain. Scenario: 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', 'Made in Vietnam', ... 3. Do you feel we should continue to use items made in other countries? How do ur arguments tie-in with ideas of trade/comparative advantage, as put forth by David Ricardo?