Bureau of Labor Statistics website

Bureau of Labor Statistics website

Table of Contents

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Sources: 4-6	Course Level: Masters/University College	Guarantee Status: 96-99%

Instructions

Bureau of Labor Statistics website

Resources
Read/review the following resources for this activity:

Textbook: Chapter 6

Videos relating to Chapter 6

Link (website): Bureau of Labor Statistics

No outside sources are required

Introduction

Bureau of Labor Statistics website

In this paper, you will apply what you have learned in Chapter 6 to the firm or business you selected in order to see how the concepts can be applied to a business situation.

Keep in mind that throughout this course, papers are intended to bring real-world situations to the course material that we are covering. Part of your grade will depend on the connections you make between your chosen firm (which could include the economic environment of your chosen firm, the markets in which your chosen firm interacts with outside actors, the decisions your chosen firm makes, etc., depending on the particular question) and the material from the chapters we covered.

Activity Instructions

Bureau of Labor Statistics website

Go to the Bureau of Labor Statistics website (linked in the Resources section above) and click on “Data Tools” (if you hover over the link there will be a dropdown menu, but click on the header).  That will bring you to the page with data (http://www.bls.gov/data/).  Then click on the “Top Picks” link for “All Urban Consumers” under the Inflation & Prices table (it is the first yellow star on the blue background in the list as of the time of this writing).  Select “U.S. All items, 1982-84 = 100” and click “Retrieve data” from the bottom of the page.  Use this data for the first few questions below.

Bureau of Labor Statistics website

Part 1: What has happened to the CPI over the past year?  Over the past 3 years?  Over the past 10 years?  What has been the rate of inflation been over those time periods?  If you select “Include graphs” at the top and then click on “Go”, a graph of the data will appear.  Are there time periods in that graph when the CPI is decreasing or is the CPI always increasing over that time period?  Are there any relatively large declines in the CPI? What does this mean happened to prices in the United States?

Part 2: For your chosen business, how does a relatively slow increase in the CPI affect the choices it makes?  If the CPI increases at a much more rapid rate, how might those decisions be affected?  Will different decisions need to be made, or do those decisions just need to be made more often?  What if the CPI declines significantly or over an extended period of time?  Think about both the output and inputs of the firm.

Be sure to spend at least half of the paper on the application to business. Do not only focus on the data.

Writing Requirements (APA format)

1.5-2 pages (approx. 300 words per page), not including title page or references page

1-inch margins

Double spaced

12-point Times New Roman font

Title page with topic and name of student

Bureau of Labor Statistics website

RUBRIC
Excellent Quality 95-100%	Introduction 45-41 points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.		Literature Support 91-84  points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.			Methodology 58-53 points Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met.
Average Score 50-85%	40-38 points More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided.		83-76  points Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration.			52-49  points Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met.
Poor Quality 0-45%	37-1 points The background and/or significance are missing. No search history information is provided.		75-1 points Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration.			48-1 points There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met
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Bureau of Labor Statistics website

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