49.202_ECON II Fall 2014 MID-TERM EXAM Ques 4 Use the data in the Table to answer the questions asked in 4a and 4b
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;estimated in the table above), it is;imperative to observe the most recent data on these;three variables.
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