econ 202 RGDP question
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qnathlra95
Economics
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Use the data in the Table below to answer the questions asked in a and b 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 2016 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 | Real GDP | RGDP growth rate in % | Unemployment Rate | Change in U rate in % | CPI Indices | Inflation rate in % |
2006 | 14,613.8 | - | 4.6% | - | 201.6 | - |
2007 | 14,873.7 | ? | 4.6% | ? | 207.3 | ? |
2008 | 14,830.4 | ? | 5.8% | ? | 215.3 | ? |
2009 | 14,418.7 | ? | 9.3% | ? | 214.53 | ? |
2010 | 14,783.8 | ? | 9.6% | ? | 218.05 | ? |
2011 | 15,020.6 | ? | 8.9% | ? | 224.93 | ? |
2012 | 15,354.6 | ? | 8.1% | ? | 229.59 | ? |
2013 | 15,612.2 | ? | 7.4% | ? | 232.96 | ? |
2014 | 16,013.3 | ? | 6.2% | ? | 236.74 | ? |
2015 | 16,471.5 | ? | 5.3% | ? | 237.02 | ? |
2016 2017 | 16,716.2 17,092.7 | ? ? | 4.9% 4.4% | ? ? | 240.01 245.12 | ? ? |
Source: for CPI and U-Rate date: www.bls.gov; For RGDP data: www.bea.gov
b. Based on those calculations, briefly analyze the overall economic performance over the last 9 years (2007-2017) and critically predict about these three macroeconomic variables for 2018-20. 5 pts
Hint: While predicting the trend for 2018-2020 (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.This question has not been answered.
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