MacroecMacroeconomicsonomics

NIPAs (See FRED (Links to an external site.) and the BEA ) What are the NIPAs? Who collects the data?
Where do you go to get it? What can you do with it? How good is it? Get some data and put the current
state of the economy into perspective with some actual measures of activity. To start, find the most recent
information on the major economic components… GDP, C, I, G, and NX (note that NX=X-M exports –
imports) and see how they have been changing over the last few periods. Be sure to differentiate between
real and nominal measures and use real values in your discussion. Also discuss the expenditure versus the
income approach to determining GDP, use some of the material from econport for this and remember a
dollar of spending by someone is always a dollar of income received by someone else. Develop a graph of
real GDP over the most recent 12 quarters you can find (four quarters of three months each are in in a
calendar year).EmploymentWhat are the main measures and how are they related? Who collects the data?
Where do you go to get it? What can you do with it? Get some current data and put things into perspective
with some actual employment/unemployment measures over the last few years. Use BEA, FRED and
econport information here.Material from Module 4 for your paper:Your text discusses a set of major
macroeconomic issues, develop a short discussion of each and why they are imprtant being sure to provide
definitions for the important concepts (eg. inflation, unemployment, etc.). Note that the economy is currently
in a recession and the terms that you are defining here are in the news almost daily. Go to the FRED (Links
to an external site.) and BEA websites and familiarize yourself with them and the kind of data and
information that is available. Download a chart that is representative of the material in the text (see the
figures, for example unemployment over time) and discuss how the pandemic period has changed the
history observed in the diagram.