Part one: Assume that the UNited States has a potential GDP of approximately $18 trillion. Use economic indicators from the last eight quarters to make the determination about the state of the economy, whether the U.S is a recession or macroeconomic equilibrium. You must explain and support your answer with the information you have researched and learned during the semester. Any research that is used be cited in the paper. This information should include the following :
- Real GDP
- Unemployment rate
- Labor Force Participation
- Inflation rate
Part two: Using excel or other software, prepare a graph (AD-AS w/LRAS) showing the economy situation you have stated in part One. The graph should be clearly labeled. Include a paragraph which describes the graph. Bar graph, circle graphs and the PPF are not appropriate graphs from this part.