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Cyberproblems
- Using the Energy Information Administration, find the change in the price of crude oil over the last year. Use the Aggregate Demand/Aggregate Supply model to predict the effect on the Price Level and Quantity of Output, assuming everything else stays the same.
- The Energy Information Administration Web page is an outlet for data and other information from the U.Sl. Department of Energy. Find "Quick Stats" and "Domestic Crude Oil Prices." What has happened to the Refiner Acquisition Cost of Crude Oil over the last year? What are the macroeconomic implications if the trend continues?
- Using the Energy Information Administrations's Short-Term Energy Outlook Monthly Price Data find the current "Pump Price of Motor gasoline: Self service, all grades." Remembering what you have learned in the chapter, is gasoline more or less expensive than it was in December 1981?
- Using the White House's Economic Statistics Briefing Room , find data on housing starts, retail
sales, industrial production, household income, GDP, nonresidential fixed
investment, corporate profits, and personal consumption expenditures. Do these
variables seem to be fluctuating together? Explain.
- Using the White House's Economic Statistics Briefing Room as your source of data, are the rate
of growth of real GDP and the rate of unemployment negatively correlated with
each other? Explain your answer.
- Dating business cycles is a project of the National Bureau of Economic Research.
View the NBER's dates for business cycle peaks and troughs since
December 1854. Is the economy currently in a contraction or expansion?
What is the difference between a recession, a growth recession, and a
depression?
- What is the Index of Leading Indicators? Access the Conference Board and click on Leading Economic
Indicators. Make sure you access the latest report on the Leading
index. What prediction would you make for the economy on the basis of
the data?
- Find annual data on real GDP and the unemployment rate over the past 3 years. Compute the percentage change in real GDP and the percentage change in the unemployment rate from year to year. Is Okun's law exactly correct? Is Okun's law approximately correct?
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