Macroeconomics for Managers Problem Set 1 In 2018, a Bipartisan effort passed the Economic Growth, Regulatory Relief and Consumer Protection Act, rolling back some key elements of the Dodd-Frank Act of 2010. Read the following article by the New York Times for reference. Congress Approves First Big Dodd-Frank Rollback – The New York Times (nytimes.com) After reading the New York Times article, discuss whether you think rolling back Dodd-Frank legislation is “good” or “bad”. To aid your discussion post, select at least three key regulations that were relaxed or eliminated. For each chosen regulation, explain the pros and cons associated with rolling back regulations. Discuss who benefits from these rollbacks. Consumers? Banks? Politicians? Since the New York Times article is brief in detail, I encourage you to research these legislative rollbacks on your own. Please provide citations for any additional sources you reference. **If you cite a statistic, it MUST be attached to a reference.** Guidelines for Discussion Posts Postings should answer all of the required questions and include all required material. Postings should be a minimum of 250 words. Avoid posting replies that are limited to ‘I agree’ or ‘great idea’, etc. If you agree (or disagree) with a posting, then say why you agree by supporting your statement with concepts from the readings or by bringing in a related example or experience. Address the questions as much as possible (don’t let the discussion stray). Try to use quotes from the articles that support your postings. Include page numbers when you do that. Use proper netiquette (proper language, typing, etc.) Problem Set 2 1. (6 points) If you had to choose ONE reason as the main cause of the Great Recession, what would it be and why? EXPLAIN thoroughly. 2. (10 points) Using a graph to illustrate, discuss the differences between the COVID-19 recession and the Great Recession (their magnitude, longevity, recovery times, etc.). Use the Aggregate Demand and Supply model to illustrate how each recession impacted AD and/or AS. Then discuss the various methods policymakers used to mitigate the effects of each recession. How did these methods affect our model? Use your graph to illustrate the effects of monetary and fiscal policies implemented. Note: you should use a separate graph for each recession. Reference your graph in your written response to aid your explanations. LABEL all curves, axes, and equilibriums! 3. (8 points) You neighbor draws you into a conversation about the latest grocery store prices. She complains about rising prices and blames the federal government. She states that the government should “do something” about it. Do you agree with her? How would you explain today’s inflation rate? What caused it? What possible actions could the government take? Discuss the pros and cons. 4. (6 points) My mother’s friend blames the Federal Reserve for the latest inflation rates. He claims that the Fed “printing money” has caused prices to rise. Do you agree? EXPLAIN thoroughly.