Web Activity 1

Identify forecasts for current year GDP growth at:

1. The Congressional Budget Office www.cbo.gov
2. Office of Management and Budget at www.whitehouse.gov/omb
3. Private economists at www.forecasts.org/gdp.htm

Do these forecasts differ? If so, what accounts for the difference?

Web Activity 2

Go to the Congressional Budget Office site at www.whitehouse.gov/omb. Click "The Budget" tab, then go to "Overview," and then to "Historical Tables." You will find the necessary data in Table 1.1. What is the projected budget balance five years from the present?

Web Activity 3

Debate continues today between Supply-Siders and modern Keynesians. Identify one supply-side argument in papers from the Heritage Foundation at http://www.heritage.org/Research/Taxes/index.cfm. Identify one modern Keynesian argument discussed at http://www.econlib.org/library/ENC/NewKeynesianEconomics.html.