Read the NYT article attached and then respond to the questions.
https://www.nytimes.com/interactive/2016/business/international/greece-debt-crisis-euro.html
They are set up as a
quiz. It is best to complete the assignment in a Word document . Explain your answers in detail, referring to concepts that youve
studied in class such as identifying shifts on the demand curve.
When completing the questions, remember to consider the state Greece is in. What you suggest in your answers, needs to be realistic given the situation Greece has itself in.
Questions
1. Suggest one possible fiscal policy to the Greek government to address the debt crisis. What
effect would the policy have? (2 marks)
2. Why might the Greek government be experiencing such a large budget deficit? (3 marks)
3. The Minister of Finance has suggested that the Greek government cut public spending by 10%.
What effect will this have on aggregate demand? (5 marks)
4. The Prime Minister would like to consider other options and has asked you to present an
alternative to increase national income growth in Greece. What is your suggestion to the Prime
Minister? (5 marks)
5. Given the recession that the Greek economy is facing, what is the most likely effect on the
following economic indicators:
a. Imports
b. Unemployment
c. Inflation
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