10 Jun WHAT IS THE MOST RECENT INFLATION RATE AND DOES IT COMPARE TO THE INFLATION RATE FOR THE SAME YEAR IN THE UNITED STATES?
This week should be a continuation of week 1. Now that you have selected a country and know basic socio-demographic and socio-economic information about it, during week 2, you need to relate it to this week’s material. In particular, we will use the United States – the world’s largest economy – as the comparative. You compare your country to the United States on each of the economic variables listed below.
1. GDP and GDP Per Capita: compare these values for your country with those for the United States, keep the year used as close as possible (the same year is preferred, if available), be specific about the currency in which the numbers are expressed – you should be able to obtain all values in US Dollars. If the values are in Purchasing Power Parity (PPP), do note that – most likely they will be in PPP.
2. Using the data you collected for question 1, compare the standard of living of your country to that of the United States (remember that by definition, GDP Per Capita is the universal measure of standard of living, but you may also include other variables if you wish).
3. What is the most recent inflation rate and does it compare to the inflation rate for the same year in the United States?
4. What is the most recent rate of growth of the country and how does it compare to the economic growth rate for the same year in the United States?
5 What explains the recent economic growth, or lack of growth in your country?
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