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Macroeconomic Indicators: During the simulation, you made decisions concerning government spending. Discuss the impact of your decisions on key macroeconomic indicators such as real GDP
Macroeconomic Indicators: During the simulation, you made decisions concerning government spending. Discuss the impact of your decisions on key macroeconomic indicators such as real GDP growth and unemployment. Refer to the graphs "Real GDP Growth" and "Unemployment Rate" from your simulation results to illustrate the impact. . Interest Rates: Describe how your changes in interest rates impacted inflation and other key macroeconomic indicators used in the simulation. Refer to the "Inflation Rate" graph from your simulation results.Table 3: Economic Environment, Decisions, and Results Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Global Economic Growth Forecast 2.4 2.4 2.8 2.0 1.6 1.0 1.3 2.0 Consumer Confidence Index 100.0 100.0 102.3 102.0 99.0 98.2 100.7 100.1 Interest Rate % 3.0 3.5 4.0 4.0 2.0 2.0 2.5 1.5 Income Tax Rate % 24.0 20.0 21.0 25.0 20.0 22.0 20.0 20.0 Corporate Tax Rate % 30.0 35.0 37.0 40.0 30.0 33.0 30.0 33.0 Government Expenditure US$ (in billions) 30.0 30.0 30.0 30.0 30.0 30.0 30.0 30.0 Real GDP Growth % 2.5 4.1 2.0 0.3 5.3 0.3 3.3 4.8 Unemployment Rate % 5.0 4.4 4.6 6.1 4.7 4.8 5.6 3.8 Inflation Rate % 2.0 1.5 2.1 1.8 1.5 3.6 3.1 2.8 Budget Surplus (Deficit) as % of GDP -3.0 -4.9 -2.6 2.3 -2.0 1.2 0.3 2.2Real GDP Growth Unemployment Rate Approval Rating High Low 10.0 7 10.0 100 - 8.0 - 8.0 - 80 - 6.0 - 6.0 60 4.0 - 4.0 - 40 % of labor force 2.0 - 2.0 - 20 - 0.0 0.0 0 1 2 3 4 5 6 7 0 1 2 3 4 5 6 7 0 3 4 5 6 Inflation Rate Budget Surplus (Deficit) Average Approval Rating Low Low High 5.0 7 5.0 - 4.0 - 3.0 - 3.04 1.0 - 80 % of GDP 2.0 - -1.0 - 1.0 - -3.0 - points 0.0 -5.0 0 2 3 4 5 6 7 0 1 2 3 4 5
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