1. What topics might public sector economics address? 2. What is the difference between fiscal year federal deficit and the federal debt? 3. Currently, the Federal Reserve is pursuing policy measures that will put upward pressure on interest rates to slow inflation. How might this impact the federal government's budget? This will require you 4. You learned about both government expenditures and government purchases in macroeconomic courses you have completed. Explain the difference providing example of what would be captured in government expenditures and government purchases. What might included in government purchases and not in government expenditures or vice versa. 5. Many individuals in the United States argue the US Constitution does not allow for or give a role to the government, They argue the government should not be involved in taxing and spending on goods and services? Can you think of reasons why might they believe this and/or how might they present an argument in support of their position. 6. ARTICLE 1, SECTION 8A, OF THE CONSTITUTION empowers Congress to "pay the debts for the common defense and general welfare of the United States." Why might some individuals interpret this differently then others? In other words, what parameters are missing?