ECON312 Course Discussions Week 4

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ECON312 Course Discussions Week 4
What is the current GDP growth rate for the U.S. Examine the trend over the past…

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ECON312 Course Discussions Week 4

ECON312 Course Discussions Week 4

All Students Posts – 92 Pages 

GDP – 44 Pages 

Go to the Bureau of Economic Analysis website, www.bea.gov, and access the BEA interactively by selecting “National Accounts” and then “National Income and Product Account Tables.” Select “Frequently Requested NIPA Tables,” and find Table 1.1.1 on GDP. What is the current GDP growth rate for the U.S.? Examine the trend over the past few years. What trends interest you? What stage of the Business Cycle would the U.S. economy be in currently given the trends? Why might GDP not be considered an accurate measure of economic well-being of a country? Identify at least three limitations of GDP as a measure of economic well-being.

The GDP does not take into consideration negative activities such as Divorces or Oil spills. Nor does it take into account for Home schooled or family care children, it will in turn add if those children are placed in daycare or if a Nanny is hired. It will also add the Oil bought, but not the Natural Resources destroyed…

Unemployment and Inflation – 48 Pages 

Go to the Bureau of Labor Statistics website, www.bls.gov/news.release/empsit.toc.htm, and click on “Employment Situation Summary” to get the most up-to-date summary of unemployment in the U.S. or the “Employment Situation Summary Table A. Household data, seasonally adjusted.” What interests or surprises you about the summary table? How does that rate compare with the rate in the previous month or quarter? Discuss the differences in unemployment rates by gender, age, education, etc.

First thing I notices right away was that they separated the unemployment rates by age, sex, and race. That interested me because in the last questions asking to discuss the differences I didn’t think any of this would actually be a factor. It seems that the younger people are most likely to get the job over adults. Also as Jade mentioned the men are more likely to get paid higher than anyone else, but do not necessarily the first to receive a job.  Another thing that interested me was the number of people who are on unemployment for over 27 weeks. I feel that number is strictly just too high…