ECON 162 Lecture Notes - Lecture 7: Soup Kitchen, Snowplow, The Home Depot

253 views3 pages

29 Aug 2016

School

Binghamton University

Department

Economics

Course

ECON 162

Professor

Kenny Christianson

For unlimited access to Class Notes, a Class+ subscription is required.

Document Summary

Problem set number seven: the current rate of inflation as measured by the cpi is -0. 2. Since 2007: the current rate of unemployment is 5. 1%. Since 2007, the unemployment rate: to find current data for inflation and unemployment, please visit the bureau of labor. On the right side of the home page is a column with. Latest numbers . has increased and then decreased, however there is an increase in the numbers of unemployment now compared to 2007. inflation has been both increasing and decreasing. Compared to the numbers in 2007, the inflation is now lower. Seasonal unemployment is not looking for a job. Zach is a jet fighter pilot in the air force. Yvette is employed part time as the town librarian. Wanda works full time at the local flour mill. Victor has not been able to find a job for two years and has given up looking for work,

Related Questions

To find current data for inflation and unemployment, please visit the Bureau of Labor Statistics web page at ( www.bls.gov ). On the right side of the home page is a column with Latest Numbers.

a. Click on the chart icon next to Unemployment Rate. What is the current rate of unemployment? How has the unemployment rate changed since 2008?

b. Going back to the home page, click on the chart icon next to Consumer Price Index. What is the current rate of inflation as measured by the CPI? What have been the trends in inflation since 2008?

c. Going back to the home page, click on Subjects and the Consumer Price Index. Then click on CPI Overview and answer the following questions:

i. What are the major groups (categories) of consumer expenditures that are included in the CPI?

ii. What prices are included in the CPI?

iii. What are three ways in which the CPI is used?

purpletoad352

In this discussion question, you will determine the stage of the business cycle that best describes where the US economy stands, using GDP growth, unemployment and inflation as metrics. Go back to the websites for the Bureau of Economic Analysis (www.bea.gov) and the Bureau of Labor Statistics (www.bls.gov) to find current data on GDP growth (last full year), unemployment, and inflation as measured by CPI and GDP deflator. Are they higher or lower than in the year 1998? What circumstances or trends do you think contribute to the difference? What stage of the business cycle are we in now? What stage of the business cycle were we in in the 1998?

In 1998 the annual unemployment rate was 4.5%, the real GDP was 4.4%, and the inflation rate for the year was 1.6%.

n this discussion question, you will determine the stage of the business cycle that best describes where the US economy stands, using GDP growth, unemployment and inflation as metrics. Go back to the websites for the Bureau of Economic Analysis (www.bea.gov) and the Bureau of Labor Statistics (www.bls.gov) to find current data on GDP growth (last full year), unemployment, and inflation as measured by CPI and GDP deflator. Are they higher or lower than in the year 1998? What circumstances or trends do you think contribute to the difference? What stage of the business cycle are we in now? What stage of the business cycle were we in 1998?

In 1998 the annual unemployment rate was 4.5%, the real GDP was 4.4%, and the inflation rate for the year was 1.6%.

whitebutterfly93

ECON 162 Lecture Notes - Lecture 7: Soup Kitchen, Snowplow, The Home Depot

Document Summary

Get access

Related Documents

ECON 162 Lecture Notes - Lecture 1: Opportunity Cost, Sport Utility Vehicle

ECON 162- Midterm Exam Guide - Comprehensive Notes for the exam ( 35 pages long!)

ECON 162 Lecture Notes - Lecture 6: Lorenz Curve, Gini Coefficient, Arbitrage

Related Questions