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What is the role of the Council of Economic Advisers (CEA) as it relates to fiscal policy? Use an Internet search to find the names and university affiliations of the present members of the CEA.

Short Answer

Expert verified

CEA assists the federal government to formulate discretionary fiscal policy.

The CEA members and their university affiliations are as follows:

NAMEUNIVERSITY
Cecilia Elena Rouse (Chair)
Harvard University
Jared Bernstein (Member)
Manhattan School of Music, Howard University, and Columbia University
Heather Boushey (Member)
Hampshire College, New School for Social Research

Step by step solution

01

Meaning and role of Council of Economic Advisers (CEA)

The Council of Economic Advisers (CEA) is a committee formulated by the U.S. president. It consists of three members: a chair and two other members.It is designed for providing economic advice to the federal government.

The CEA assists the president in analyzing the economic growth and trends. It helps the government to formulate new policies to enforce a robust economic policy. Also, it reviews and regulates the government programs and policies to meet the desired goal for economic growth.

02

Names and university affiliations of the Members of CEA

Cecilia Elena Rouse – Chair

She received her higher education from Harvard University. After completing her doctorate from Harvard, she joined Princeton University.

Jared Bernstein – Member

After graduating from Manhattan School of Music, he earned his master’s degree from Howard University and doctorate from Columbia University. He has also taught at Howard University, Columbia University, and New York University.

Heather Boushey – Member

She completed her graduation from Hampshire College and PhD from New School for Social Research.

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Most popular questions from this chapter

What are the government’s fiscal policy options for ending severe demand-pull inflation?

Refer to the following table for Waxwania:

What is the marginal tax rate in Waxwania? The average tax rate? Which of the following describes the tax system: proportional, progressive, or regressive?

What happens to the taxation and government spending rates during an expansionary fiscal policy?

True or false? If false, explain why.

  1. The total public debt is more relevant to an economy than the public debt as a percentage of GDP.

  2. An internally held public debt is like a debt of the left hand owed to the right hand.

  3. The Federal Reserve and federal government agencies hold more than three-fourths of the public debt.

  4. As a percentage of GDP, the total US public debt is the highest such debt among the world’s advanced industrial nations.

Last year, while a hypothetical economy was in a recession, government spending was \(595 billion, and government revenue was \)505 billion. Economists estimate that if the economy had been at its full employment level of GDP last year, government spending would have been \(555 billion and government revenue would have been \)550 billion. Which of the following statements about this government’s fiscal situation are true?

  1. The government has a non–cyclically adjusted budget deficit of \(595 billion.

  2. The government has a non–cyclically adjusted budget deficit of \)90 billion.

  3. The government has a non–cyclically adjusted budget surplus of \(90 billion.

  4. The government has a cyclically adjusted budget deficit of \)555 billion.

  5. The government has a cyclically adjusted budget deficit of \(5 billion.

  6. The government has a cyclically adjusted budget surplus of \)5 billion.

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