Question Details Normal
$ 20.00
Question about economics
  • From Economics, General Economics
  • Due on 13 Jun, 2018 12:00:00
  • Asked On 10 Jun, 2018 10:53:55
  • Due date has already passed, but you can still post solutions.
Question posted by

This assignment will introduce students to the U.S. Department of Labor's Bureau of Labor Statistics (BLS) data and provide students with the skills to calculate inflation and interpret the Consumer Price Index (CPI). Note: The BLS is the primary source of information on inflation, but their data is re-posted in other sources, such as the St. Louis Federal Reserve FRED site, among others. 

Assignment Steps 

Resources: Tutorial help on Excel® and Word functions can be found on the Microsoft® Office website. There are also additional tutorials via the web offering support for Office products. 

Use an internet search or the University Library to locate information on the Consumer Price Index (CPI). Internet sites you might find useful include the Bureau of Labor Statistics (BLS) and the Federal Reserve of St. Louis FRED web site although you are allowed to use other sources. 

Develop a minimum 700-word analysis of inflation by including the following:

  • Choose a product or service you currently consume/use, such as apparel or educational services, that is included in the CPI's "market basket."  Find the annual CPI index numbers for your chosen good or service for the years 1995, 2005, 2010, and 2015.  Enter those index numbers in an Excel® file and calculate the percent change (inflation rates) in those index numbers from 1995 to 2005, from 1995 to 2010, and from 1995 to 2015.   
  • Analyze the trends in overall inflation over the last five years and whether your income has kept pace with inflation.  How has inflation over the last five years affected you and/or your family?
  • Discuss how a business manager, such as a human resources manager, might use CPI statistics. 
Available solutions
$ 20.00
Question about economics
  • This solution has not purchased yet.
  • Submitted On 12 Jun, 2018 07:45:48
Solution posted by
Aspects of inflation Student’s Name Institution Aspects of inflation Introduction Inflation can be explained as the aspect of the general and gradual fall in the purchasing value of a currency, usually money. Inflation is related to the general increase in the prices of commodities in a country as well as globally. Inflation is well known for the side negative effects that it brings about. Unfortunately, the scholars and the economists claim that is impossible to live without inflation. It is stated that at every given time, there is a percentage of inflation that affects the country (Birkland, 2014). Once the value of the currency is devalued, the purchasing power of the consumers is also affected negatively. With time, customers are only able to consume less of the products they need with the same amount of money that they could spend more on when the inflation level was lower. The most contradicting scenario is the tradeoff that is said to exist between employment and the level of inflation. It is said that for the level of employment to rise, some level of inflation will have to be anticipated as ...
Buy now to view full solution.
Only 45 characters allowed.

$ 629.35