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Economics

Please remember two subjects need a title and a complete conclusion of at least

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Please remember two subjects need a title and a complete conclusion of at least 100 words for each subject, not one storyline. 1: A Student’s Consumer Price Index (CPI) Participate in a discussion with your classmates regarding a student’s CPI. Review the “EYE on Your Life” caption titled, A Student’s CPI, within Section 7.3 in the textbook. Now that we have learned that the CPI shopping cart is filled with the items that an average urban household buys, discuss and share with your classmates why rent, textbooks, and tuition are the main items whose prices rose faster than average. Please apply the CPI concepts, limitations, and biases as explained in the textbook when sharing your discussion. 2: Natural Unemployment Participate in a discussion with your classmates regarding natural unemployment. Review the “EYE on Your Life” caption titled, Natural Unemployment, within Section 8.2 in the textbook. Now that we have learned that potential GDP is the value of real GDP when all the economy’s factors of production – labor, capital, land, and entrepreneurial ability – are fully employed, discuss how these factors render natural unemployment as productive when considering potential GDP. Please apply the production function and labor market concepts as explained in the textbook when sharing your discussion.

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