Assume the economy in the United States has the following: Unemployment is 7.2% and rising. Inflation is at 1.1% and relatively stable at that level. The GDP is at $20.6 trillion down from $22.4 trillion six months ago. . . Assume that you are on the Council of Economic Advisors which is the group that advises the President on economic policy issues. It's your job to propose an Expansionary Fiscal Policy to help alleviate the problems in the economy. The NRU is 4% and the target inflation rate is 2.0% 1. Given the data above, what problem is the economy facing? Use the concepts of Supply and Demand in your explanation. 2. Based on the problem(s) you identified in Question 1, how should Government Expenditures be used to solve that problem? Explain whether the spending should increase, decrease or stay the same. Be sure to explain why the policy will be successful. 3. What complications" could arise that would make the spending change you recommended in Question 2 less successful? Explain in detail. 4. Based on the problem(s) you identified in Question 1, how should Taxes be used to solve that problem? Explain whether taxes should increase, decrease pr stay the same. Be sure to explain why the policy will be successful. 5. What complications could arise that would make the tax changes you recommended in Question 4 less successful? Explain in detail 6. You have proposed two policy options in questions 2 and 4. Which would you recommend to the President? Explain in detail