Economics - Describe the current state and trends of the U.S. economy

Economics

Using data from the  Federal Reserve’s website (FRED)  answer the following questions. Your response should be roughly a page and a half in total. Excellent answers should show your understanding of macroeconomic indicators, the workings of the macroeconomy and fiscal policies. You can use the attached document to provide your answers.

1. Describe the current state and trends of the U.S. economy in terms of these major macroeconomic indicators – GDP and GDP growth, inflation and unemployment. Explain the difference between nominal and real GDP? Do you think the current unemployment rate under or over-estimates a “true” measure of unemployment? How are these macroeconomic indicators related?

2. Describe a fiscal policy measure that the federal government has implemented in the last year? How is this fiscal measure expected to affect aggregate demand? Is this an expansionary or contractionary measure?