The news headlines during late 2012 and early 2013 were

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The news headlines during late 2012 and early 2013 were predominantly encompassed by the numerous deliberations between the President of the United States of America and the United States Congress regarding how to deal with the economic situations facing the USA.

The unrelenting debates concentrated on situations which included the USA's Fiscal Cliff, Debt Ceiling and the Continuing Resolution for the Federal Government. Thus, while referencing these economic situations and the economic principles and terminology described in the course textbook, explain the difference between Macroeconomics and Microeconomics. Also explain how economics is used as a social science and as a policy tool.

Write a two-page essay in which you address the issues outlined above.

Reference no: EM13373331

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