In the article below, "Biden's Plan to Spend $4.5 Trillion Without Boosting Deficits..."

1) Identify two expansionary fiscal policy that Biden has included in this proposal. Include supporting spending numbers for the programs you identify. Assuming that the marginal propensity to consume is 0.6 calculate the magnitude of the fiscal spending multiplier? On an annual basis calculate the total impact (including multiplier effects) each policy will have on GDP.

2) In this proposal how does Biden plan to keep this revenue neutral and not increase budget deficits? If the marginal propensity to consume is 0.6 what is the fiscal tax multiplier? If additional tax revenue does in fact offset the proposed increase in government spending will the overall Biden proposal result in increased GDP? Explain your reasoning carefully.

3) Who gains and who loses if this proposal were adopted? Based on your analysis would you vote in favor of this proposal if you were a legislator in Congress? Explain your reasoning carefully.