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Real GDP (Stands for)

Real GDP (Stands for). Definition: Formula: What does it measure? U.S. Real GDP in…. CPI (Stands for). Definition: Formula: What does it measure? Major Categories in Market Basket. Inflation. Definition: Significance of Inflation Rate:

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Real GDP (Stands for)

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  1. Real GDP (Stands for) • Definition: • Formula: • What does it measure? • U.S. Real GDP in…

  2. CPI (Stands for) • Definition: • Formula: • What does it measure? • Major Categories in Market Basket

  3. Inflation • Definition: • Significance of Inflation Rate: Having $1000 in 1935 would be like having _$16,536.13 in today’s dollars. • 2009_______ f. 1980______ • 2007_______ g. 1975______ • 2000_______ h. 1970______ • 1995_______ i. 1960______ • 1990_______ j. 1950 ______ http://data.bls.gov/cgi-bin/cpicalc.pl • Current Unemployment Rate

  4. Unemployment Rate • Definition: • Formula: • What does it measure? • Who is included in the labor force? • Current U.S. Unemployment Rate:

  5. Bureau of Labor Statisticshttp://www.bls.gov/bls/infohome.htm • What is the BLS do? • What is their mission? • What is their vision? (summarize – do not copy and paste) • For two careers at the BLS, describe the job and the job responsibilities, also list the qualifications (click on qualifications) 1. 2.

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