Extra Credit (4 points)

According to the advance estimate for third quarter 2022 GDP for the United States

economy, did the nominal GDP or real GDP increase by a larger amount? Explain

why this measure increased more than the other (1 point).

Between August 2022 and September 2022, did the CPI or core CPI experience a

higher growth rate? Explain what would cause this measure to grow by a larger

amount than the other measure. (2 points)

According to the article on Consumer Spending, Income and Savings for September,

explain why the savings rate decreased between August and September in the context

of what happened to the income and consumption values in September. (1 point)