Determine the actual numerical change in the CPI from January to December of each year from 2000 to 2019.

INSTRUCTIONS TO CANDIDATES

ANSWER ALL QUESTIONS

Students will have 3 hours to complete this exam. 

Upon completion this answer sheet and altered spreadsheets must be submitted to Blackboard.

Completed exams must be uploaded to BlackBoard.

You are provided with 2 spreadsheets. You will download a 3rd speadsheet on GDP as indicated below.

a)       ECO 105 CPI for All Urban Consumers (CPI-U) SeriesReport-20201029022657_f63149

b)       ECO 105 Labor Force Statistics from the Current Population Survey SeriesReport-20200429151252_417a96

1. PART 1 ECO 105 MIDTERM EXAM

Retrieve the GDP from the Federal Reserve Economic Data (FRED) website at https://fred.stlouisfed.org/

i. Type in GDP in the search window.

ii. Set the range to 2000-01-01 to 2020-01-01

iii. Access the EDIT GRAPH icon and change the observation frequency to “ANNUAL”

iv. Download the spreadsheet as an Excel file.

v. Submit this to BlackBoard at PART 1 ECO 105 MIDTERM EXAM

2.       Determine the actual numerical change in the CPI from January to December of each year from 2000 to 2019.

3.      Which year shows the greatest numerical increase?

4.       Find the percentage change in the CPI from January to December of each year from 2000 to 2019.

5.      Which year shows the greatest percentage decrease?

6.       Use the Consumer Price Index (CPI) spreadsheet to compute the average CPI for the years 2000 through 2019.

7.       Use the Labor Force Statistics spreadsheet to find the December unemployment rates for 2010 through 2019.

PART 2 ECO 105 MIDTERM EXAM

8.       Create a graph/chart including the year, the average CPI and the December unemployment rates for 2010 through 2019.  You may use separate graphs if needed.  Submit this to BlackBoard at PART 2 ECO 105 MIDTERM EXAM

9.       Copy the GDP information for 2000 to 2020 from the GDP spreadsheet into the CPI spreadsheet.

10.       Find the GDP percent change (increase/decrease) for each year from 2000 to 2020.

PART 3 ECO 105 MIDTERM EXAM

11. Create a graph/chart including the year, the December CPI, the Average CPI, and the percent change (increase/decrease) GDP from 2010 to 2019.  You may use separate graphs if needed.  Submit this to BlackBoard at 

PART 3 ECO 105 MIDTERM EXAM

12.    What relationship do you see with the CPI and the GDP during the period 2010 to 2019.

PART 4 ECO 105 MIDTERM EXAM

13.     Create a graph/chart including the year, the December CPI, the Average CPI, the December unemployment rate, and the percent change (increase/decrease) GDP from 2010 to 2019.  You may use separate graphs if needed.  Submit this to BlackBoard at PART 4 ECO 105 MIDTERM EXAM

14.    Is there any apparent interaction with the unemployment rate and the CPI or the GDP?

15. Submit this to BlackBoard at PART 5 ECO 105 MIDTERM EXAM

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