Scenario: Consider your last big purchase such as a car, appliances, home improvement, home purchase, computer equipment, college tuition, or another "big-ticket" item, which are often purchased using loans/financing (by borrowing money). Also consider your decision-making process that led you to choose a particular make, model, or brand of the product (or service) you purchased and whether it was the right time to make the purchase given economic conditions at the time of your purchase. While analyzing your decision, keep in mind everything from interest rates to the prices of complementary and substitute goods are driven by human economic behavior.
Develop a minimum 1,050-word analysis of your decision-making process in which you include the following:
Retrieve from https://fred.stlouisfed.org and insert into your paper charts showing: Real Gross Domestic Product (Google FRED GDP) Real GDP per Capita (Google FRED GDP per Capita) Real Personal Consumption Expenditures (etc) Median Housing Prices and discuss the trend relationship between these variables since 2005.
Retrieve from https://fred.stlouisfed.org and insert into your paper charts showing: Bank Prime Loan Rate Consumer Price Index Unemployment Rate and discuss the trend relationship between these variables since 2005.
Describe your last big purchase and discuss the influence of the economic varibles charted. Also discuss any government programs, such as tax credits or tax deductions for energy-saving/efficiency purchases, on your decision to make your last big purchase. If government incentives did not factor into your decision, explain why not.
Cite a minimum of three credible sources. Note: The Federal Reserve Bank of St. Louis, the Bureau of Economic Analysis, and the Bureau of Labor Statistics are credible reference sources.
Scenario: Consider your last big purchase such as a car, appliances, home improvement, home purchase, computer equipment, college tuition, or another "big-ticket" item, which are often purchased using loans/financing (by borrowing money). Also consider your decision-making process that led you to choose a particular make, model, or brand of the product (or service) you purchased and whether it was the right time to make the purchase given economic conditions at the time of your purchase. While analyzing your decision, keep in mind everything from interest rates to the prices of complementary and substitute goods are driven by human economic behavior.
Develop a minimum 1,050-word analysis of your decision-making process in which you include the following:
Retrieve from https://fred.stlouisfed.org and insert into your paper charts showing: Real Gross Domestic Product (Google FRED GDP) Real GDP per Capita (Google FRED GDP per Capita) Real Personal Consumption Expenditures (etc) Median Housing Prices and discuss the trend relationship between these variables since 2005.
Retrieve from https://fred.stlouisfed.org and insert into your paper charts showing: Bank Prime Loan Rate Consumer Price Index Unemployment Rate and discuss the trend relationship between these variables since 2005.
Describe your last big purchase and discuss the influence of the economic varibles charted. Also discuss any government programs, such as tax credits or tax deductions for energy-saving/efficiency purchases, on your decision to make your last big purchase. If government incentives did not factor into your decision, explain why not.
Cite a minimum of three credible sources. Note: The Federal Reserve Bank of St. Louis, the Bureau of Economic Analysis, and the Bureau of Labor Statistics are credible reference sources.
