1.Exploring Tax Cuts, Jobs, and Tax Revenue There has been discussion about whether the Tax Cuts and Jobs Act that took effect in 2018 will increase tax revenue. Tax revenue can be thought of an as average tax rate multiplied by taxable income. If the average tax rate falls while taxable income stays the same, tax revenue will fall. But what if the tax cuts increase taxable income? Both of the major schools of thought in macroeconomics (Keynesians and Neoclassicals) believe that tax cuts increase economic growth. Economic growth increases taxable income. Our recent economic growth has brought unemployment down to historically low levels. Think about this. Reply to these questions to begin your discussion: Do you think that the tax cuts of the Tax Cuts and Jobs Act will increase economic growth and taxable income so much that tax revenue will increase?Or do you think that the tax cuts will reduce tax revenue? Explain your answers.2. Assignment 2: Final Report This assignment is aligned to this course outcome: Apply macroeconomic concepts to current and personal economic events and decisions. In addition to writing about macroeconomic concepts, it's equally important to be able to convey your understanding of these concepts by communicating them to others. In the workplace you might do this by writing briefs (like you did for Assignment 1), creating presentations, or writing reports for your manager or team. An example final report and optional template are provided below. For this Final Report assignment, you can build off your previous economic brief and selected industry from Assignment 1, or you can select another industry such as Finance and Insurance, Health Care, or Manufacturing, and examine one of the macroeconomic indicators or policies below: GDP growthUnemployment rates Inflation rates Interest rates Imports and exports Government fiscal policy and issues related to taxation, government spending, and budget deficits FED (central bank) monetary policy and issues related to the FED’s mission to stabilize the economy Review an example final report. Use the optional template to help you get started. Review the Strayer Writing Standards. (See Instructions below.) Instructions Use Microsoft Word to prepare a Final Report that is a minimum of two to three (2-3) pages long in which you: 1. Introduce your selected industry with a brief one-paragraph introduction. Refer to the NAICS (North American Industry Classification System) to review the details about your industry. 2. Assess your selected industry’s size and/or growth rate in the economy. These macroeconomic resources will help you find the size and growth rate of your industry relative to real U.S. GDP: • Real GDP – Select Section 1, then table 1.1.6 (select MODIFY to change the year range and frequency). Data is from Bureau of Economic Analysis (bea.gov). • % Change in Real GDP – Select Section 1, then table 1.1.1 (select MODIFY to change the year range and frequency). Data is from Bureau of Economic Analysis (bea.gov). • GDP by Industry – Steps: 1. Select "Interactive Data."2. Select "Industry Data Tables."3. Select "Begin Using the Data."4. Select "Gross Output by Industry."5. Select "Real Gross Output by Industry (A) (Q)."6. Select “Quarterly” or “Annual.”7. Select "Next Step." Data is from Bureau of Economic Analysis (bea.gov). • % Change in GDP by Industry - Steps: 1. Select "Interactive Data."2. Select "Industry Data Tables."3. Select "Begin Using the Data."4. Select "Gross Output by Industry."5. Select "Percent Changes in Chain-Type Quantity Indexes for Gross Output by Industry (A) (Q)."6. Select “Quarterly” or “Annual.”7. Select "Next Step." Data is from Bureau of Economic Analysis (bea.gov). 3. Identify one newsworthy macroeconomic indicator or policy (e.g., GDP, unemployment, inflation rates, interest rates, government taxation and spending decisions, and/or FED decisions) that the industry should monitor and explain why it’s important and how it might impact your selected industry. These resources are available to help you measure and track macroeconomic indicators and outcomes of macroeconomic policies.You’ll use one or more depending on the macroeconomic indicator selected. • Unemployment rates – Data is from Bureau of Labor Statistics (bls.gov). • Inflation rates as measured by the Consumer Price Index (CPI). Data is from Bureau of Labor Statistics (bls.gov). • % Change in Real Exports and Imports - Select Section 4, then table 4.2.1. (Select MODIFY to change the year range and frequency.) Data is from Bureau of Economic Analysis (bea.gov). • Government receipts, expenditures, and savings – Select Section 3, then table 3.1 for total government and table for 3.2 for federal government. (Select MODIFY to change the year range and frequency.) Data is from the Bureau of Economic Analysis (bea.gov). • FED Funds Interest Rates. Data is from Trading Economics (tradingeconomics.com). 4. Describe a recent trend in the macroeconomic indicator or policy. Include a graph, chart, or table that illustrates the observed trend. 5. Summarize how you think this industry will perform in the future. Provide support for your rationale. 6. This course requires use of Strayer Writing Standards (SWS). The format is different compared to other Strayer University courses. Please take a moment to review the SWS documentation for details. (Note: You’ll be prompted to enter your Blackboard login credentials to view these standards.) Your brief should include a cover page. Your brief should be a minimum of two to three (2-3) pages in length (not including the cover page), double-spaced, 12-point font.Your report should include a minimum of two (2) references/citations in the text.

Your integrating essay should include the following:Topic is opportunity cost.While an abstract is not required your initial paragraph should set up what the reader can expect to find in your essay.Section One (1500-2000 words)A restating of your initial problem statement; modify (if necessary) to reflect learning from the literature review, course discussions and feedback.A concise summary what you found out through your literature review. For example, is there an overriding trend in the academic thinking around the topic?A critical evaluation of the various articles you reviewed. For instanced why is one better than anotherWhat are the wider implications of your literature review such as commercial applications? Why is this review important?If you had more time what are some of the other areas you would want to explore around your topic that were missed initially?A clear and strong conclusion that articulates your key finding/s, summarizes your arguments, and suggests implications.Section Two (change matrix)The change matrix highlights any item that you want to change from your original literature submission.Section ThreeAttach your previous literature review here.Section FourAttach your literature review references here and make sure that they are in correct APA format. Points will be deducted for format errors.