What are four macroeconomic indicators you will use to determine the effectiveness of the government policies?

The unemployment rate, Gross Domestic Product, Inflation rate, and the current account.

Unemployment rate

Unemployment rate weighs that fraction of the labor force that has no work. Government policies should aim to reduce the level of unemployment. However, if unemployment is too high, then it is an indication of problems with government policies.

Gross Domestic Product

Gross Domestic Product is the general value of the entire products generated by a country during a specific period, normally one year. Changes in the Gross Domestic Product are used by economists to measure economic growth. Effective government policies will facilitate economic growth and help the economy to stabilize in case of a recessionary gap or inflationary gap.

Inflation rate

The inflation rate is the percentage increase in the overall price level in the country from one year to another. Effective government policies should result in moderately low and stable inflation. However, if government policies are not fruitful, then a country is likely to experience high levels of inflation that impacts the economic growth adversely.

The current account

The current account documents the proceeds from exports, payment for imports, net interest paid abroad, and net transfers. When a country imports more than it exports, it experiences current account deficit. Effective government policies should help to reduce current account deficit.