how Bureau of Labor Statistics calculates inflation rate

how Bureau of Labor Statistics calculates inflation rate

1. For this assignment you need to find out how Bureau of Labor Statistics calculates inflation rate. Specifically you need to find
a) What is included in consumer basket
b) When was the last time BLS updated consumer basket?
c) How does BLS collect information about prices?
d) How does BLS deal with difference in prices in different regions of United States?

2. For this assignment you need to find out how Bureau of Labor Statistics calculates unemployment. Specifically you need to find
a) How does BLS finds out how many people in United states included in Labor force?
b) Who is counted as a labor force participant?
c) How does BLS find out who is currently employed and who is unemployed?
d) Who is counted as employed by BLS and who is counted as unemployed?
e) How often BLS collects this information and reports unemployment rate?

3. What was an unemployment rate during July 1992?
4. What was a real GDP and GDP growth rate during the year 1992?
5. What was an inflation rate during July 1992?

 

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