Economics Homework Help

Use the data in the Table below to answer the questions asked in a and b 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 2016 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 %	Unemployment 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	15,354.6	?	8.1%	?	229.59	?
2013	15,612.2	?	7.4%	?	232.96	?
2014	16,013.3	?	6.2%	?	236.74	?
2015	16,471.5	?	5.3%	?	237.02	?
2016 2017	16,716.2 17,092.7	? ?	4.9% 4.4%	? ?	240.01 245.12	? ?

Source: for CPI and U-Rate date: www.bls.gov; For RGDP data: www.bea.gov

b. Based on those calculations, briefly analyze the overall economic performance over the last 9 years (2007-2017) and critically predict about these three macroeconomic variables for 2018-20. 5 pts

Hint: While predicting the trend for 2018-2020 (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.