Provide your own analysis regarding where you believe the U.S. economy is operating with respect to the business cycle, i.e., in what phase of the business cycle (trough, expansion, peak, contraction) do you believe the US economy is in? See text, p.150, 213 about business cycles.
Use the evidence you found in Assignment 4.1. or other indicators such as housing starts, consumer confidence, or stock market values to support your analysis.
Explicitly account for the assumptions you or others are making regarding the relationship of the explanatory variables, i.e. what’s causing the change (in GDP or growth rates, unemployment, housing starts, etc).
Based upon your conclusion, would you recommend a policy action to move the economy toward full employment? Why or why not? Who should take what precise action- Congress or the Fed?
Papers should be 2-3 pages in length. USE THE TEMPLATE attached. Papers not submitted in the template WILL NOT BE ACCEPTED. Papers must include a works cited page (change links to author, title, publisher, date). Your analysis should include 3 or more references in addition to your textbook. Graphs do not count towards the page limit.
Use a minimum of 3 of these sources to formulate your answers
National Bureau of Economic Research
Bureau of Labor Statistics
Conference Board: Leading Economic Index, Coincident Economic Index
Federal Reserve
U.S. Census (Census Bureau Economic Statistics)
Bureau of Economic Analysis
Congressional Budget Office
Council for Economic Education
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