s1. Describe the impact of inflationary and recessionary gaps p.233 and the lump sum tax of $15 billion with a MPC of 3/5 p. 231 on the domestic economy.

2. Complete # 2, 6, and 9 of Problems at the end of the chapter 11, p. 239.

3. Describe the difference between the actual & cyclical budget deficits with Table 13.1, p. 174.

4. Discuss and evaluate the five criticisms of fiscal policy, p. 276.

5. Evaluate the four substantive issues regarding the public debt, p. 281.