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Review the two budgets in the Assessment 1 Template [DOCX]. Summarize what did and did not change in the second budget.


Describe the economic trends that created the need for a change in expenditures.


Think about the economic trends that prompted the budget decisions you made. Make connections to the economic concepts you have learned.


Provide a rationale for the budget decisions made in response to economic changes.


Explain your budget decisions to the family. Address all changes in expenditures and why you made no changes to other budget items, discussing long-term implications.