Economic Indicators Paper - 1521 Words

Economic Indicators Paper What does it mean when someone refers to the health of an economy? Furthermore, how can one classify an economy? Americans love to quantify data. Because of this inherent need to compare data, economists have developed a way to collect nearly every type of statistics that may reveal the general health of the economy. These statistics actually tell if the economy is productive and efficient or if it is slow and inefficient. Included in these statistics are Gross Domestic Product (GDP), Consumer Price Index (CPI), Unemployment Rate, Retail Sales, Producer Price Index (PPI), and Personal Income. Included in this paper, Team A defines the preceding six indicators, and describes their status. Additionally, a†¦show more content†¦There have been many indicators that have been developed to measure inflation. The CPI measures inflation as experienced by consumers through their everyday expenses. The Producer Price Index (PPI) measures inflation during the early stages of busine ss development, such as production and sales. The best measure of inflation for a given application depends upon how one intends to use this data. CPI allows businesses to adjust prices based upon a comparison of the current cost of a defined set of goods and/or services to the cost of those same goods at a time in the past. It is also, the best measure to use to translate retail sales and hourly earnings into real or inflation-free dollars (2005). The CPI is the most widely used measure of inflation and is sometimes viewed as an indicator of the effectiveness of government economic policy. It provides information about price changes in the Nations economy to government, business, labor, and private citizens and is used by them as a guide to making economic decisions. In addition, the President, Congress, and the Federal Reserve Board use trends in the CPI to aid in formulating fiscal and monetary policies. Retail Sales Retail sales, represent an important component in the economy. Products sold by companies, such as Target and local retail stores are tracked and reported to the Census Bureau. The Census Bureau compiles this data on a monthly basisShow MoreRelatedFerguson Enterprise: Macroeconomics Term Paper1379 Words   |  5 PagesFerguson Enterprise. Macroeconomics Term Paper. History: Charles Ferguson, Ralph Lenz, and Johnny Smither founded Ferguson Enterprise Inc., in 1953. The company started with $165,000 in capital, with only two locations, Colmar Manor, Md., and Birmingham, Alabama. During the next five decades, Ferguson saw big growth in revenue and continue to grow rapidly, doubling its size every five years. In 1982, Wolseley plc, which is listed on the London Stock Exchange located in the United Kingdom, boughtRead MoreEffects Of Recession On Banking Sector Of China And United Kingdom2906 Words   |  12 PagesInstitution: Outline I. Executive summary II. Introduction Effects of recession Indicators of recession Objective of paper Thesis statement III. Content of research Literature review Methodology Research ethics Findings Recommendations and conclusion IV. References V. Appendix Executive Summary The research explores the effects of recession on banking sector of United Kingdom and china. The indicators of poor economy in the country are analyzed and discussed into details. InterviewingRead MoreState Regulation On Uber And Cab Drivers Essay1322 Words   |  6 Pagesancient Rome, paper currency system in China, and others including Egyptian, Indian and Greek (Plagiarism, Wikipedia: The Free Encyclopedia). In the modern society, governments choose to intervene to correct market failure, to achieve an equitable distribution of income and wealth and to improve the performance of economy (Geoff, 2006), such as the debate on state regulation on Uber and cab drivers in WNPR News recently in the United State. In the meanwhile, one of the key economic questions, whatRead MoreIs It The Struggle To Move Beyond Gdp Analysis1050 Words   |  5 Pagesneed for alternative measures to GDP arose as a result of GDP limitations at measuring wellbeing. Alternate wellbeing indicators are eithe r complements to GDP challenging the emphasis put on economic growth or directed at promoting â€Å"de-growth† to achieve a sustainable, steady-state economy (Hayden Wilson, 2016). Therefore, there are two main expectations for these alternate indicators including: 1) the transformative vision that strives to shift priorities away from growth and; 2) the reformative visionRead MoreThe Effects Of Oil Prices On Economic Activity1525 Words   |  7 Pagespossible consequences for oil exporters. This paper will examine the relationship between oil price dynamics and macroeconomic indicators in oil exporting countries such as Canada, Russia, Norway, Mexico and UK. The hypothesis of oil price effects will be tested by adopting the Vector Autoregression (VAR) framework, which has been widely used to examine the effects of changes in oil price on economic activity in other papers. The main findings of this paper conclude that there is a considerable relationshipRead MoreEssay on Pf izer Macroeconomic Forecast1715 Words   |  7 PagesAbstract This paper is a Macroeconomic Forecast Outline of Pfizer, Inc. This outline will identify main economic indicators for Pfizer as a business entity and as a representative of pharmaceutical industry. This paper will identify sources of various data collected based on economical activity and relationships between different economical indicators. Main Economic Indicators The purpose of economic indicators is to provide for researchers and analysts the ability to interpreter economic data. EconomicRead MoreReview Of Related Literature Involving The Robustness Of The Environmental Kuznets Curve1080 Words   |  5 PagesThis paper revolves around the review of related literature involving the robustness of the Environmental Kuznets Curve. This economic theory discusses the relationship turning point of environmental degradation with respect to economic growth. The hypothesis was introduced by Grossman and Kreuger who developed a reduced-form approach to embody the linear correlation of economic growth to environmental quality. Further studies have tested and enhanced this theory by tweaking either or both sidesRead MoreMarket Potential Indicator and Its Components: International Market Analysis649 Words   |  3 PagesThis paper will present a brief introduction about the Market Potential Indicatior (MPI) and its components. Moreover, a hypothetical c ase study of company that markets laptop computers will be analyzed with respect to the indicators of MPI. Lastly, the paper will evaluate which countries would be an ideal market for such a company. MPI has been formulated after considering a number of indicators and is used to compare emerging markets with one another. The significance of MPI has increased dueRead MoreThe Concepts Of Csr And Financial Performance1450 Words   |  6 Pagesprimary aims to the social responsibility critics afterwards. Davis (1960) also agreed that businesspersons should consider public welfare and human values when seeking their economic or technical benefits. It was indicated that the corporate managers should take actions or decisions they make for reasons other than the economic functions. On the contrary, some studies argued that, within the rules of the game, corporations only need to focus on those activities related to company profit and excludeRead MoreMexico s Demographic Transition : Public Policy And Spatial Process1618 Words   |  7 Pagesrelevant to the approach to the DTM as my project will demonstrate. Brezis, E., Young, W. (2003). The new views on demographic transition: A reassessment of Malthus s and Marx s approach to population. The European Journal of the History of Economic Thought, 10(1), 25-45. Retrieved from http://web.b.ebscohost.com/ehost/pdfviewer/pdfviewer?sid=8682dba3-0cfb-4608-bc36- 42cf5849d36e@sessionmgr111vid=10hid=116 The article examines Malthus’s and Marx’s model of demographic transition. The researchers