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Identify fiscal policy tools used by the federal government.

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The following assignment consists of 2 separate one page papers. Each are the same context but with a different subject. The underlying subject of each will be inflation caused by government spending. Topic 1: Consumer Price Index, Economic Growth, Unemployment, and the Business Cycle. Now is the time to delve deeper into a chosen country and identify key macroeconomic concepts that affect domestic growth and consumer welfare. Locate a recent article or event (published within the last year) that highlights your selected macroeconomic topic. Use the Hunt Library, newspapers, new stations, or other credible sources to discuss how your topic aligns with macroeconomics. Include the following in your document. State the article or event selected. Define consumer price index, economic growth, and the business cycle. Calculate your chosen country’s consumer price index using price levels from 2018 to 2020. Compute your chosen country’s unemployment rate. Identify factors that are affecting your chosen country’s unemployment rate and explain. What type of unemployment has the greatest impact on your chosen country? Why? Interpret your chosen country’s economic growth from 2018 to the first quarter of 2021. Determine your chosen country’s phase of the business cycle and explain how you arrived at your answer. Analyze your findings. Summarize your findings using at least 300 words and provide a minimum of one reference. Use current APA formatting to document your sources. Topic 2: Fiscal Policy and Keynesian Framework, and Inflationary and Recessionary Gaps Now that you have gained a good grasp of macroeconomic concepts in class; you are going to apply your knowledge to analyze the United States. Using the understanding of supply and demand gained this week, you will expand your knowledge as it pertains to changes in market equilibrium and the concepts of price ceilings and price floors. Locate a recent article or event (published within the last year) that highlights your selected macroeconomic topic. Use the Hunt Library, newspapers, new stations, or other credible sources to discuss how your topic aligns with macroeconomics. Include the following in your document. State the article or event selected. Identify fiscal policy tools used by the federal government. Explain whether the federal government should be using contractionary or expansionary fiscal policy and why. How does aggregate supply (AS) differ from aggregate demand (AD)? Can you explain how you would note whether the United States is in the short run or long run as it pertains to the AD/AS model? State whether the United States is in an inflationary or recessionary gap. Identify which determinants of aggregate demand and/or aggregate supply have overcorrected our economy. Or do you believe the United States is at its long-run equilibrium? What steps need to be taken by the federal government to move our economy back to long-run equilibrium? Can you explain whether the United States will be stuck with higher price levels now and in the future? Summarize your findings using at least 300 words and provide a minimum of one reference. Use current APA formatting to document your sources.

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