Influence of Economics on Household Decision, homework help

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need a business paper done, apa format, no outline please just final

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Influence of Economics on Household Decision
Making Grading Guide
ECO/561 Version 12
Economics
Purpose of Assignment
To locate, retrieve, and evaluate the effects of macroeconomic indicators on your own decision making.
Assignment Steps
Resources: Tutorial help on Excel® and Word functions can be found on the Microsoft® Office website. There
are also additional tutorials via the web offering support for Office products.
Scenario: Consider your last big purchase such as a car, appliances, home repairs, 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 statistics on Real Gross Domestic Product (GDP) and on Real Personal Consumption
Expenditures (PCE) by year for the last ten years. You can retrieve those statistics from internet
sources including, but not limited to, the Federal Reserve of St. Louis's FRED web site, the U.S.
Department of Commerce's Bureau of Economic Analysis (BEA) web site, or another credible source
of your choice. Post these statistics in a single worksheet of an Excel® workbook and submit your
Excel® file with your report. In your report, discuss the latest 10-year trends in both GDP and PCE.
Also discuss how the trends in GDP compare with trends in PCE. You are encouraged to include
graphs of these statistics in your report; you could create the graphs in Excel®and copy them into your
report.
Retrieve statistics on the Effective Federal Funds Rate and on the Consumer Price Index: All Items
Less Food and Energy by year for the last 30 years. You can retrieve those statistics from internet
sources including, but not limited to, the Federal Reserve of St. Louis's FRED web site, the U.S.
Department of Labor's Bureau of Labor Statistics (BLS) web site, or other credible sources of your
choice. Post these statistics in a single worksheet of an Excel® workbook and submit your Excel® file
with your report. In your report, discuss how the trends in the Effective Federal Funds Rate compare
with trends in inflation. If you took out a loan to pay for your "big-ticket" purchase, what was the
interest rate on your...


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