The annual association meeting of the automotive (car) industry will take place soon. You have been asked to present a report regarding the current status of the federal budget and fiscal policies in place in the United States. For your presentation, write a report (in essay form) in which you consider and explain how the current status of the federal budget and fiscal policy will impact the automotive (car) industry over the next 2 years, using economic theory to support the conclusions you draw. Do not write your report based just on textbook theory—address current policy and how it will impact the automotive (car) industry, based on theory. Address the following in your report as appropriate: expansionary and contractionary fiscal policy, fiscal policies used to close a recessionary gap and an expansionary gap, and the rationale for budget deficits. Your report must be four full pages. Adhere to APA Style when creating citations and references for this assignment. The United States Government Publishing Office website is a helpful website for finding information for this assignment. Textbook reference: McEachern, W. A. (2018). ECON MACRO (6th ed.). Cengage Learning US
