- Summary of the article
- A discussion of how the article relates to or illustrates the terms you have listed on our cover page.
- A brief discussion of how this relates to you personally.
Overview: You will be writing and posting a summary of an interview
- Interview someone in your family or someone you know who has a full-time job. (A parent is a great possibility)..
- Ask him/her the following questions. (Take notes of the answers during the interview)
- What percent of your total income do you pay in federal and state taxes?
- If the government (federal and state) increased the tax rate by 20% how would you change your spending habits? How specifically would you adjust to the decrease in monthly take-home pay? (spending, savings, investment. If spending on goods and services is reduced, what specific goods/services would be reduced or eliminated?)
- If the government (federal and state) decreased the tax rate by 20%, how would you change your spending habits? What specifically would you do with the additional income you received each month? (spending, savings, investment. If spending on goods and services is increased, what specific goods/services would be purchased?)
- Write a summary of your interview. Use a WORD document with 12 font and double space.
- Answer the question: “What impact would the answers your interviewee gave to the last two bullets above have on GDP?”