The purpose of the data exercises is to ensure that you are familiar with the methodology of

Data Exercises

The purpose of the data exercises is to ensure that you are familiar with the methodology of

collecting data from the Web and analyzing it. These exercises include collecting the

required data, creating a graph or table to present this information, and two to three

double-spaced pages of analysis of the data.

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DATA EXERCISE #1

consists of four parts

Part 1: Expenditures Approach to Calculating GDP (weight 25% of the assignment grade)

Complete the following exercise

Visit the Bureau of Economic Analysis Web site at www.bea.gov Select National, then Interactive Tables: GDP and the National Income and Product Account (NIPA) Historical Tables, click “Begin using the data”, and use Section 1 - Tables 1.1.5 and 1.1.6 to identify the GDP (nominal GDP) and real GDP for the past four quarters.

a) Present the information that you received in your project as a table.

b) Write a report (1 page double - spaced), which contains the analysis of the results you received.

In this report consider, but do not be limited to the following:

Why was nominal GDP greater than real GDP in each of those quarters?
What were the percentage changes in Nominal GDP and real GDP for the most recent quarter?
What accounts for the difference?