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Can someone help me answer these questions..

Discussion in 'U.S. Politics' started by lifewithoutmeaning, Feb 2, 2007.

  1. lifewithoutmeaning

    lifewithoutmeaning New Member

    Dec 27, 2006
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    You read the following information about the economy:

    :D 1. Real GDP up three percent from a year ago.
    Unemployment rate of 6.1 percent.
    Consumer Price Index up six percent from a year ago.
    Index of Leading Indicators up for the last six months.
    Prime interest rate of ten percent, up from seven percent a year ago.

    a. Explain what each of these economic indicators measures and what the significance of the current data is for the economy.
    b. These indicators should paint a picture of the entire economy. Describe that picture.

    :cool: 2. The following headline appeared in 1986: "Inflation Rate at 1.1%; Lowest Rate in 2 Decades."
    a. What is meant by inflation ?
    b. How did the statisticians arrive at 1.1 percent? What measure did they probably use?
    c. What does this headline imply about inflation during the 20 years before 1986?

    :) 3. True, false, or uncertain, and why?

    "If you won a million dollars in the lottery, you wouldn't have the economic problem of scarcity."

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