Answer following problems with the using Department of Labour, Bureau of Labour and Department of Commerce analysis of GDP at: www.doc.gov. The Federal Reserve at: www.federalreserve.gov.

problem 1:

Is the US economy in recession, inflation, or pretty-much in equilibrium?

problem 2:

Illustrate your answer to problem 1. That is, give reasons why you think that we are in the recession, inflation, or about as good as it gets.

problem 3:

Examine if we are in a recession or inflation, please point out what you would do if you had the power to fix the problem. In other manners, would you increase tax, lower spending, increases the money supply, and so on?