AP Macroeconomics Assignment using FRED

Summary: GDP assignment using FRED.

FRED Data Base Name __________________________
GDP

1. Navigate your browser to: http://stlouisfed.org/index.cfm
2. On the tool bar, select “Research and Data” highlighted in maroon.
3. On the top tool bar, select “FRED®”
4. On the Economic Research page, select, “Gross Domestic Product (GDP) and Components”
5. Now select, “GDP/GNP (23)”
6. Select, “GDPA”. A graph should appear. Print this graph. This graph is “Nominal GDP.”
7. Select, “View Data”. Record the data into the table below.
8. Next, select, “GDPCA”. Print this graph. This graph is “Real GDP.”
9. Select, “View Data”. Record the data into the table below.
10.Use a calculator to compute the GDP Price Deflator for 1960, 1970, 1980, 1990, and 2000. The GDP Price Deflator in 1960, was 18.59 by my calculations (526.4/2830.9 = .1859 * 100).
11. Turn in two printed graphs and completed table above.

Extra Credit:

1. Calculate the GDP growth rate between decades for Nominal and Real GDP.
Interpret both growth rates.

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About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.