MacroEconomics Assignment

Nov 19th, 2014
Anonymous
Category:
Accounting
Price: $100 USD

Question description

DATA EXERCISE  consists of three short reports as detailed below:

 I. The Unemployment Rate (30% of the assignment grade)

 A. Visit the Bureau of Labor Statistics Web Site,

www.bls.gov/news.release/empsit.toc.htm and Select Employment Situation Summary.

B. Write a short report (1-2 pages double-spaced) that answers the following questions:

1. What month (and year) is summarized? What was the unemployment rate for that month? How does that rate compare with the rate in the previous month?

2.What were the unemployment rates for adult women, teenagers, blacks, Hispanics, and whites? How did these rates compare with those a month earlier?

3. What factors make it difficult to determine the unemployment rate?

4. Why is unemployment an economic problem?

5. What are the noneconomic effects of unemployment?

6.Who loses from unemployment?

II. The Inflation Rate (30% of the assignment grade)

A. Visit the Bureau of Labor Statistics Web Site,

www.bls.gov/news.release/cpi.toc.htm and Select Consumer Price Index Summary.

B. Write a short report (1-2 pages double-spaced) that answers the following questions:

1.What month (and year) is summarized? What was CPI-

U for that month?

2.What was the rate of inflation (percentage change in the CPI

-U) for the month?

How does that rate of inflation compare with the rate in the previous month?

3.Which two categories of goods or services had the greatest price increase for the month?

4.Which two categories of goods or services had the lowest price increase (or greatest price decrease) for the month?

5.Who loses from inflation?

III. CPI, PPI and GDP deflator (weight 40% of the assignment grade)

A. One of the largest single influences on the level of interest rate is inflation. There are a number of sites that report inflation over time. Go to http://www.gpoaccess.gov/eop/

-the home page of the Economic Report of the President.

B. Select the following three tables:

1. Table B–63: Change in special consumer price indexes

2. Table B–68: Change in producer price indexes for finished goods

3. Table B–3: Quantity and price indexes for gross domestic product, and percent changes

C. From the table B-63. Copy percent change in special consumer price indexes All Items Dec. to Dec. for 1970-2013 into a separate spreadsheet.

D. From the table B-68 Copy Change in producer price indexes for finished goods-Total finished goods-Dec. to Dec. for 1970-2013 in to the same spreadsheet.

E. From the table B-3 Copy Percent change from preceding period

-Gross domestic product (GDP) - GDP implicit price deflator

for 1970-2013

F. Plot these three series on the same graph. Present the tables and the graph in your report.

G. Write a short report (1 page double-spaced), which contains the analysis of the results that you received.

In this paper consider, but do not be limited to the following:

How inflation is measured? What year had the lowest level of inflation? What year had the highest level of inflation? What factors may determine the results you reported?


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