• The federal government employs a budget plan over several fiscal years that results in significant increases in the national debt, with no relief or plans to deal with the problem.
• The federal government enacts new tariffs and quotas on all imports.
• The general public loses confidence in their leadership, in terms of their ability to manage the economy, especially in the area of job creation.
• For each of the items above, please help me to describe what would be the likely outcomes in the economy. Use the appropriate tools of analysis, such as aggregate demand and aggregate supply where appropriate, to justify and explain your answer.