For questions 1-5, consider the following scenario. You are an economist for the Federal Reserve Board. You are asked to be in charge of the GDP forecast for the upcoming FOMC meeting, at which the FOMC will decide whether to change the federal funds target rate. It is August 2012, U.S. second quarter GDP for 2012 was recently released, and the FOMC wants a forecast of the growth rate of U.S. real GDP through the end of next year. They will use this to determine if the U.S. economy has reached a turning point. You have access to just about every data set published on the U.S. economy to make your forecast. However, you will not just use the forecast generated by one of the Fed's thousand plus equation models; you will be asked to use your judgment to adjust the forecast that the FOMC will see. What is the forecast object? O U.S. real GDP O Growth of U.S. real GDP Federal funds target rate Turning point of the U.S. business cycle