Thinking of the equation used to calculate GDP. Let's pretend the USA's Real GDP in 2020 was $25.6 trillion. If C = $14.5 trillion, I = $3.5 trillion, G = $2.4 trillion, then X = ____________________, which means ___________________ are greater than __________________. Now, let's pretend the USA's Real GDP in 2021 was $32.5 trillion. If C = $28.6 trillion, I = $4.8 trillion, and G = $ 3 trillion, then X = ____________________, which means ___________________ are greater than __________________. What was the growth in the USA's Real GDP from 2020 to 2021? Did the USA achieve its goal for GDP growth, and how do you know? Let's pretend the USA's labor force was 205 million and the Unemployment Rate was 2.5% at the end of 2021. Now, let's pretend 3 million more people were out of work at the end of the first half of 2022 (the end of the 2nd Quarter). How many people were considered unemployed at the end of the 2nd Quarter, and what was the new Unemployment Rate? Did the USA achieve its goal for the Unemployment Rate at the end of the 2nd Quarter of 2020, and how do you know?

3. Lastly, let's pretend the USA's CPI was 755 at the end of 2021. Now, let's pretend the USA's CPI at the end of the 2nd Quarter was 800. What is the USA's new Inflation Rate as measured by the CPI? Did the USA achieve its goal for the Inflation Rate at the end of the 2nd Quarter, and how do you know?