Macroeconomics
21st Edition
ISBN: 9781259915673
Author: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn Dr.
Publisher: McGraw-Hill Education
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Question
Chapter 13, Problem 1DQ
To determine
The role of Council of Economic Advisers (CEA).
Expert Solution & Answer
Explanation of Solution
The CEA is a body of officers, who are responsible for advising the president on domestic as well as international
1. Assist and advise the president in the fiscal matters, which is the prime most duty of the CEA by being in the executive office of the president.
2. To compile and submit the studies relating to the developments in the economy to the president by collecting the timely and authoritative data from the economy.
3. To appraise the various economic activities of the government; after a detailed analysis, the required recommendations are laid down to the president.
4. Develop and recommend national economic policies to the president.
5. To prepare the required reports about various aspects of the economy, on president's request.
The members of the Council of Economic Advisers and their university affiliations are as follows:
Jason Furman (28th chairman) holds PhD in Economics from Harvard University.
Sandra Black received B.A from University of California, PhD in Economics from Harvard University.
Jay Shambaugh received B.A from Yale, M.A.L.D from Tufts University and PhD from University of California.
Economics Concept Introduction
Concept introduction:
Council of Economic Advisers: It is the agency which advises the president on economic matters. The office is included within the executive office of the president.
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Students have asked these similar questions
Which of the following is correct?
1) Expansionary fiscal policy during a recession means cutting taxes, increasing
government spending, or taking both actions.
2) The goal of expansionary fiscal policy is to rein in inflation.
3) Expansionary fiscal policy tends to lead to a smaller budget deficit.
O 4) Expansionary fiscal policy is always better than contractionary fiscal policy for
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13. Which fiscal policy would make a budget surplus larger or a budget deficit smaller?
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O lower government transfers
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percentage points.
O a. 0.28
O b. 0.82
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