Economic Forecasting Paper Free Essays

Economic Forecasting Paper Rebecca Sloop University Of Phoenix Principles of Macroeconomics ECO/372 Alexander Heil PhD November 23, 2012 Economic Forecasting Paper Two historical economic data where information can be found are Bureau of Economic Analysis, U. S. Department of Commerce and FRED, Economic Time-Series Database. We will write a custom essay sample on Economic Forecasting Paper or any similar topic only for you Order Now The FRED database comprises the national economic and financial statistics as well as interest rates, consumer price indexes, employment and population and trade data. This database is a valuable source because this consents populaces to see how the country’s financial state is at. The Bureau of Economic Analysis includes estimates concerning national, international, and regional economic activity. It also provides statistics decision influenced by the government officials, business people, households and individuals. The quantitative of each site is that they included tax list information and census return evidence. The Bureau of Economic Analysis and FRED database qualitative used are they both expound on the findings that are encompassed in the database. The area that was not comfortable to me was about the measureable and qualitative. I did not fully comprehend what the real variance is and after reading the material it seem as if they both mean the same. This week focus does relate to my field because I work for a Medicare part D drug plan. Having an indication of how and what the historical records collect it gives me a better understanding of how they regulate the group of people who may qualify for Medicare assistance each year. References U. S. Department of Commerce. (2012). . Retrieved from Bureau of Economic Analysis: http://www. bea. gov/ How to cite Economic Forecasting Paper, Essay examples Economic Forecasting Paper Free Essays The most important resource that we felt that would be used to gather historical economic data as well as economic forecast data would be surveys of various consumers finances essay writer premium 3d. The consumer finance survey would be used to calculate all income of each individual family. These surveys of consumer finances for each individual family in the United States would be considered a qualitative type of research, but at times can also be a quantitative research as well. We will write a custom essay sample on Economic Forecasting Paper or any similar topic only for you Order Now During these surveys we notices that the qualitative aspect of them can determine their results with the help of other research and studies, whereas the quantitative aspects of the survey’s results are made up of all the numerical numbers from each question. The various factors of demand and supply are Exchange rates, the distribution of income, Expectations, and Monetary and fiscal policies. Another shift factor of aggregate supply is a change in the productivity of the factors of production such as labor. Other shift factors are changes in import prices of final goods and changes in excise and sales taxes. Economists spend a lot of time tracking these shift factors because they are central to whether the economy will have an inflation problem. Aggregate demand management policy attempts to influence the level of output in the economy by influencing aggregate demand and relying on the multiplier to expand any policy-induced change in aggregate demand. The effectiveness of changes in fiscal policies using Keynesian and Classical models are, economists who focused on long-run issues such as growth were called Classical economists and economists who focused on the short run were called Keynesian economists. Classical economists believed in the market’s ability to be self-regulating through the invisible hand. A Classical economist takes a laissez-faire approach, and believes the economy is self-regulating. A Keynesian economist takes an interventionist approach, and believes that equilibrium output can remain below potential output. How to cite Economic Forecasting Paper, Papers