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Topic:

The State of USA in Statistics and Understanding

Coursework Instructions:

The State of the USA: statistics and understanding the economy
Let's begin by finding statistics and learning how to interpret the statistics.
1. Briefly define
a. Nominal GDP
b. Real GDP
c. per capital GDP

2. What year were you born?
the year of 2000
3. Find the growth rate of aggregate Real GDP.
a. the year before you were born.
b. the year you were born.


4. Find the growth rate of per capita GDP. Find the growth rate of inflation
a. the year before you were born.
b. the year you were born.


5. Find the inflation rate.
a. the year before you were born.
b. the year you were born.


6. Use the CPI calculator at https://data(dot)bls(dot)gov/cgi-bin/cpicalc.pl
In the first box enter "1" then switch the year and month to the year before your birth date. Then enter your birth date in the next box. Click calculate.
a. what number did the calculator give you?
b. what does this number mean?


7. Use the a CPI calculator again. In the first box enter "1" then switch the year and month to your birth date. Leave the remaining boxes alone (the other boxes should default to the most recent date that data is available). Click calculate.
a. what number did the calculator give you?
b. what does this number mean?

8. How healthy/unhealthy was the economy when you were born? Briefly explain.

9. Create a question not asked that you think should be asked and could be answered with this data.

10. Answer question 9.
Hi, the length does not matter as long as all the questions are answered properly.

Coursework Sample Content Preview:

00114960 ECONOMICS HOMEWORK
Name Course Instructor Date
The State of the USA: statistics and understanding the economyLet's begin by finding statistics and learning how to interpret the statistics.1. Briefly definea. Nominal GDPThe nominal GDP is the value, at market prices, production of final goods and services produced in a country during a certain period of time, usually one year,b. Real GDPThe real GDP is the value of production at constant prices. While the nominal GDP reflects the increases or decreases in these prices, the real GDP reflects the inflation or deflation, and the net purchasing power, regardless of price changes over time.c. per capita GDPThe per capita GDP is an economic indicator that measures the relationship existing between a country’s level of income of a country and population. The Gross Domestic Product (GDP) of a country is divided by the population of inhabitants to determine per capita GDP.2. What year were you born?The year of 20003. Find the growth rate of aggregate Real GDP.a. the year before you were born.4.753% b. the year you were born.4.127%
4. Find the growth rate of per capita GDP. Find the growth rate of inflationa. the year before you were born.The growth rate of per capita GDP in 1999 was 3.6%
The growth rate of inflation in the year 1999 was 41.0%b. the year you were born.
The growth rate of per capita GDP in the year 2000 was 3.0%
The growth rate of inflation in the year 2000 was...
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