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The document provides data on real GDP, unemployment rates, and CPI indices for the US from 2006 to 2014. It asks the reader to calculate changes in inflation rates, unemployment rates, and RGDP growth rates over this period and describe overall economic performance from 2007 to 2014, and predict trends for 2015-16.

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Nitesh Agrawal
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37 views

Question

The document provides data on real GDP, unemployment rates, and CPI indices for the US from 2006 to 2014. It asks the reader to calculate changes in inflation rates, unemployment rates, and RGDP growth rates over this period and describe overall economic performance from 2007 to 2014, and predict trends for 2015-16.

Uploaded by

Nitesh Agrawal
Copyright
© © All Rights Reserved
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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Use the data in the Table to answer the questions asked in 4a and 4b on each of the 3 variables

for the US economy:


a. Calculate the changes in inflation rates, unemployment rates and the RGDP growth rates for
the years from Year 2007 through 2014 and show them in a new column next to each of the
values of the three variables (a template of the table is given below). 5 pts
Year
2006
2007
2008
2009
2010
2011
2012
2013
2014

Real
GDP
14,613.8
14,873.7
14,830.4
14,418.7
14,783.8
15,020.6
15,369.2
15,710.3
16,089.8

RGDP growth
rate in %
?
?
?
?
?
?
?

Unemploym
ent Rate
4.6%
4.6%
5.8%
9.3%
9.6%
8.9%
8.1%
7.4%
6.2

Change in
U rate in %
?
?
?
?
?
?
?

CPI
Indices
201.6
207.3
215.3
214.53
218.05
224.93
229.59
232.96
236.74

Inflation
rate in %
?
?
?
?
?
?
?

Source: for CPI and U-Rate date: www.bls.gov


For RGDP data: www.bea.gov
b. Based on those calculations, briefly describe the overall economic performance over the last 8
years (2007-2014) and critically predict about these three macroeconomic variables for 2015-16.
5 pts
Hint: While predicting the trend for 2015-16 (based on the growth rates and trend you estimated
in the table above), it is imperative to observe the most recent data on these three variables.

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