03 Jun Question 4) Use the data in the Table to answer the question
Question
4) Use the data in the Table to answer the questions asked in 4a and 4b 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 2013 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 %
Unemploym
ent 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 15,369.2 ? 8.1% ? 229.59 ?
2013 15,710.3 ? 7.3% ? 232.95 ?Source: for CPI and U-Rate date: www.bls.gov
For RGDP data: www.bea.gov
b. Based on those calculations, briefly describe the overall economic performance over
the last 7 years (2006-2013) and critically predict about these three macroeconomic
variables for 2014-15. 5 pts
Hint: While predicting the trend for 2014-15 (based on the growth rates and trend you
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