Interactive data tab click the gdp personal income

Info icon This preview shows pages 10–14. Sign up to view the full content.

View Full Document Right Arrow Icon
Interactive Data tab, click the GDP & Personal Income link, click the Begin Using the Data box, then click Section 1: Domestic Product & Income, lastly click the link for Table 1.1.1 (percent change from the preceding period in real gross domestic product). To receive credit must attach to your problem set Table 1.1.1 From Table 1.1.1 list the U.S. GDP quarterly growth rates (annualized) for the last five quarters. Is the growth rate “above” or “below” Year Quarter Growth rate the long-run U.S. annual growth rate? a. ________ ________ ________ % __________ b. ________ ________ ________ % __________ c. ________ ________ ________ % __________ d. ________ ________ ________ % __________ e. ________ ________ ________ % __________
Image of page 10

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
2. Unemployment Go to the Bureau of Labor Statistics web site, www.bls.gov. On the homepage under Latest Numbers, click Unemployment Rate, then locate Table A-15, Alternative Measures of Labor Underutilization To receive credit must attach to your problem set Table A-15 For the latest month available find the official unemployment rate (seasonally adjusted) and the U-6 measure of labor underutilization (seasonally adjusted) Month and year Rate a. ____________ ________ % Official unemployment rate b. ____________ ________ % U-6 measure of labor underutilization -2- Ch9 3. Consumer Price Index (CPI) and salaries of baseball players since 1931 Go to the Federal Reserve Bank of Minneapolis web site, www.minneapolisfed.org. On the home page you will see a box titled “What is a dollar worth?” Click “CPI Calculator Information,” then “Consumer Price Index and Inflation Rates, 1913 – “ [middle column contains the CPI] a. The CPI in 1931 : __________. The CPI in 2014: __________. b. Using your answers to (a), the rate of inflation between 1931 and 2014 was _________% Must show formula and detailed calculation c. Babe Ruth’s salary in 1931 was $80,000 (President Hoover earned $75,000). Using the “What is a dollar worth” box, Babe Ruth’s 1931 salary, adjusted for inflation ,
Image of page 11
is equivalent to a salary in 2014 of $_________________________. For (c) must print / attach to your problem set the filled in “What is a dollar worth?” box d. Zack Greinke (Los Angeles Dodgers), the highest paid baseball player in 2014, earned a salary of $26,000,000. Between 1931 and 2014, salaries of baseball superstars have increased _______________ ___than the rate of inflation. Using your knowledge of markets, in 25 words or more explain why. Word Count: __________ -3- Ch9 4. Consumer Price Index (CPI) and home prices in Southwest Florida between 1994 and 2006 Go to the Federal Reserve Bank of Minneapolis website, www.minneapolisfed.org. On the home page you will see a box titled “What is a dollar worth?” Click “CPI Calculator Information,” then “Consumer Price Index and Inflation Rates, 1913 - “ [middle column contains the CPI] a. The CPI in 1994: __________. The CPI in 2006: __________. b. The rate of inflation between 1994 and 2006 was __________% Must show formula and detailed calculation
Image of page 12

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
c. In 1994 a house located in San Carlos Park (Fort Myers) cost $97,500. [CBS built in 1990, 3 bedroom-2 bath-2 car garage, 1472 / 2172 square feet.] Using the “What is a dollar worth” box, if this home had increased in value equal to the rate of inflation , then its price in 2006 would have been $____________________.
Image of page 13
Image of page 14
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern