Was there a production gap when Kennedy assumed the presidency in Jan 1961? How large was it? (Assume a GNP growth rate of 3.3% starting in 1955 and project forward) 2. What are the critical issues and assumptions of the tax cut debate? 3. Was this a supply or demand side tax cut? 4. How successful was the tax cut of 1964? What general lessons do your conclusions suggest with respect to the use of fiscal policy as an economic management tool