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A homework assignment for students in the applied research skills for economists course (econ 775). The assignment requires students to access specific websites and answer questions related to macroeconomics, using resources such as olivier blanchard's textbook and dr.t's econlinks. Topics include answering questions about chapter 1 and 2 using economagic, analyzing the u.s. National debt as a percentage of gdp, and explaining federal government spending and interest on the national debt.
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Homework Assignment 1
Applied Research Skills for Economists ECON 775
a. Print out a graph of the U.S. national debt as a percentage of GDP. Is this graph based on RGDP or NGDP? Explain.
b. Place recent U.S. debt levels in historical perspective. Are we in dangerous territory?
c. Click on federal budget spending and the national debt and use charts to explain to a non-economist how the Federal government spends our taxes. Scroll down to the bottom and find out how much interest we pay on the national debt.