Section+Exercise+1+solutions-1

Section+Exercise+1+solutions-1 - DepartmentofEconomics 2011

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Department of Economics            Spring  2011 University of California, Berkeley    Economics 1    Head GSI: Swetha  Doraiswamy Section Exercise 1 for 1/19/11 and 1/20/11 Opening Discussion Questions 1) What do you know about the current state of the economy? Is it doing well?  Is it doing  poorly?  Why do you think so?  (Think about things like jobs and prices.) 2) How have the changes in the economy since December 2007 affected you?  Answers will vary. Economic activity has contracted significantly since Fall 2008, but we  are currently no longer in a recession.  However, the national unemployment rate is still at  9.4% (12.4% in CA) and inflation is hovering close to 0%. Bureau of Labor Statistics Data Questions The attached data contains information on the number of employees in different industries.  1) What is the general trend concerning the number of employees in 2009? From December 2009 to December 2010, the number of nonfarm employment in the U.S. 
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Section+Exercise+1+solutions-1 - DepartmentofEconomics 2011

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