Please, use these two links (copy and then insert in the searching area) here to help me find the correct answers, that I'm struggling with:

1. Bureau of Economic Analysis (BEA)https://www.bea.gov/
2. The Federal Reserve Bank of St. Louis Education Data (FRED)https://fred.stlouisfed.org/

Then, please help me out figuring the correct numbers/answers and clearly indicate with 1) and 2) to which answer! I would highly appreciate some explanation, but I don't demand too much! Thank you

Question 1

Use the BEA sitehttps://www.bea.gov/ to access the National Income and Product Account (NIPA) tables for the United States.

1. Using U.S. annual data, compute GDP, GNE, and GNDIin 2022.

1. Was U.S. GDP higher or lower than its GNE in this year? Interpret this finding.

1. Was U.S. GNI higher or lower than its GDP? Interpret this finding.

1. Was the U.S. a net giver or receiver of unilateral transfers?

Question 2

Use the BEA sitehttps://www.bea.gov/ to find the 2022 annual balance of payments data for the United States.

1. Compute income earned on (1) external assets and (2) income paid on external liabilities.

1. Find the 2019 net international investment position data for the United States. Compute (3) external assets and (4) external liabilities for the end of the prior year.

1. Divide (1) by (3) and then divide (2) by (4) to find the implied rates of interest on external assets and liabilities. Is the United States still privileged?

Question 3

Use the FRED economic databasehttps://fred.stlouisfed.org/ to locate and graph the United States balance on the current account (in the search space on the right just type "balance on current account").

1. Copy the graph and paste it here. Looking at the time series plot, what has happened to the U.S. current account over time? Compare the U.S. experience in the 1960s with that since 1990.

1. Looking at the current account identity, what are the possible sources of the dramatic change in the U.S. current account observed over the last 10 years?

1. In the figure, the recession dates are shaded. What happened to the U.S. current account during the last two U.S. recessions in 2001 and 2008-2009? Looking at the current account identity, what are the possible reasons that the current account would behave this way during recessions?

Question 4.

Use again the FRED economic databasehttps://fred.stlouisfed.org/ to look at the U.S. to U.K. foreign exchange rate (search for US/UK Foreign Exchange Rate then change the beginning date to Jan 1, 2016). Copy and paste the graph here.

1. On June 23, 2016, how many dollars did it take to buy one British pound?

1. On June 27, 2016, how many dollars did it take to buy one British pound?

1. Over the time period, did the British pound appreciate or depreciate? Does this suggest an increased demand to hold pounds or a decreased demand to hold them?

1. What political event happened to cause such a change in the exchange rate? Why did this event cause an appreciation/depreciation (as per your answer to c)?

1. How has this exchange rate changed between the summer of 2016 and today? How can this appreciation/depreciation be explained?

Question 5.

Examine the U.S. balance of trade (Exports-Imports) as a percent of GDP. Using the FRED economic database (https://fred.stlouisfed.org/), search for U.S. Exports. Find the series EXPGS (use this series rather than the series for real exports). Click Edit Graph and Modify Frequency to change to an annual rate (use the average method). Now, under Customize Data look for a similar series for imports (IMPGS) and add it. Now, under Customize Data search for gross domestic product (don't use real GDP) and add that. You now have three series, Exports (a), Imports (b), and Gross Domestic Product (c). Write a formula for the balance of trade as a percentage of GDP using a, b and c, and enter it in the formula box, clicking Apply.

1. In 2005, before the 2008-2009 recession, what was the trade deficit as a percent of GDP?

1. In 2009, during the recession, what was the trade deficit as a percent of GDP?

1. Was the trade deficit bigger or smaller in 2009 compared to 2005? Why? Using your answers to this question, comment on whether a trade deficit is necessarily a bad thing.

1. How has the trade deficit as a percent of GDP changed since the 2009 recession? Do you think that it will increase or decrease as a result of the current drastic economic downturn? Explain.