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4) Use the data in the Table to answer the questions asked in 4a and 4b 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 2013 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 % Unemploym ent 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 15,369.2 - 8.1% - 229.59 2013 15,710.3 - 7.3% - 232.95 Source: for CPI and U-Rate date: www.bls.gov For RGDP data: www.bea.gov b. Based on those calculations, briefly describe the overall economic performance over the last 7 years (2006-2013) and critically predict about these three macroeconomic variables for 2014-15. 5 pts Hint: While predicting the trend for 2014-15 (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.
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Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"
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