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ECO 561 Week 4 Discussion Question 1 & 2
Description
DQ 1.
Business Cycle
What is the economy’s current stage in the business cycle? Support your answer with data on the real GDP growth rate, the unemployment rate, and the CPI inflation rate. You may obtain these data from the Bureau of Economic Analysis website (http://www.bea.gov/) and the Bureau of Labor Statistics website ( http://www.bls.gov/ ).
DQ 2.
Economic growth, as measured by increases in real GDP per capita, is a goal for most countries. This is often interpreted as an increase in economic welfare for citizens . How would you evaluate this assertion? If there are reasons to dispute it, why is it a nearly universally recognized goal? Are there better methods for measuring economic welfare? How would you measure it?