This is a challenging assignment question requiring collecting data from external source. Would you please help it and attach the Excel file together with the answer? Thanks a lot!!!

8. The Clinton-Greenspan policy mix As described in Chapter 5, during the Clinton administration the policy mix changed toward more contractionary fiscal policy and more expansionary monetary policy. This question explores the implications of this change in the policy mix, both in theory and fact. i"? a. What must the Federal Reserve do to ensure that if G falls and T rises so that combination of policies has no effect on output. Show the effects of these policies in an ISLM diagram. What happens to the interest rate? What happens to investment? b. Go to the Web site of the Economic Report of the President for 2012 (https://www.govinfo.gov/app/details/ERPZOlZ/context) Look at Table 379 in the statistical appendix. What happened to federal receipts ( tax revenues), federal outlays, and the budget decit as a percentage of GDP over the period 1992 to 2000? (Note that federal outlays include transfer payments, which would be 10 A':EE'Ill excluded from the variable G, as we define it in our ISLM model. Ignore the difference) Can you find out the changes of Target Federal Funds Rate between 1992 and 2000? When did monetary policy become more expansionary? i\"? Go to Table 32 of the Economic Report of the President and collect data on real GDP and real gross domestic investment for the period 1992 to 2000. Calculate investment as a percentage of GDP for each year. What happened to investment over the period? Finally, go to Table 3-31 and retrieve data on real GDP per capita (in chained 2005 dollars) for the period. Calculate the growth rate for each year. What was the average annual growth rate over the period 1992 to 2000? AJEiafi