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How inflation is measured?

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DATA EXERCISE #2;consists of three parts;Part 1: The Unemployment Rate (weight 30% of the assignment grade);Complete the following exercise;Visit the Bureau of Labor Statistics Web Site;www.bls.gov/news.release/empsit.toc.htm. Select Employment Situation Summary.;Write a report (1-2 pages double - spaced) to answer the 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?;Part 2: The Inflation Rate (weight 30% of the assignment grade);Complete the following exercise;Visit the Bureau of Labor Statistics Web Site;www.bls.gov/news.release/cpi.toc.htm. Select Consumer Price Index Summary.;Write a report (1-2 pages double - spaced) to answer the 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?;Part 3 CPI, PPI and GDP deflator - (weight 40% of the assignment grade);Complete the following exercise;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.;Select the following three tables: (a) Choose Table B63.Change in special consumer price;indexes, (b) Table B68. Change in producer price indexes for finished goods, and (c);Table B3. Quantity and price indexes for gross domestic product, and percent changes;From the table B-63. Copy change in special consumer price indexes All Items Dec.;to Dec. from 1970 to the most recent year into a separate spreadsheet.;From the table B-68 Copy Change in producer price indexes for finished goods Total finished goods - Dec. to Dec. from 1970 to the most recent year in to the same;spreadsheet.;From the table B-3 Copy Percent change from preceding period- Gross domestic;product (GDP) - GDP implicit price deflator from 1970 to the most recent year in;to the same spreadsheet.;Plot these three series on the same graph. Present the tables and the graph in your;report.;b) Write a 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?

 

Paper#15643 | Written in 18-Jul-2015

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