L_l k In 2-3 paragraphs (see getting started module for details, including the specic sentence length requirements), respond to the following. Your initial post should be substantive. Also reply to at least 2 classmate's posts. Offer a substantive reply of at least 1 paragraph. Aim to complete your initial post by Thursday of each week to allow other students to respond before Friday. (30 to this website of the Bureau of Labor Statistics (hitoMgMpsl Ba) and nd the latest unemployment rate and civilian labor force participation rate. How does each compare with the same month last year? Has there been a change? Also make a comparison with the last 60 years? Is it higher/lower today? (Note: You can scroll down a little where it says "Latest Numbers". There are little icons of graphs next to the numbers. You can click there to go to a new page with a historical graph. You can change the time period in the dropdown menu above the graph to see previous years.) Go to this website h_ttpszawww.bls.gov(cp_i[ 5 and report the latest year-over-year (12 month change. all items) ination rate and core ination rate (all items except food and energy). ls it higher/lower than last year? How does it compare with the last 60 years? You may also share your experience. We discussed how the ination rate might be overestimated due to improvements in the quality of goods, substitution of relatively less expensive goods and the exclusion of newer products from the basket of the CPI. Comment on one 0R more of the following situations. (Note: I added more choices to comment about here than what the original question asked. This is meant to give students a broader set of options to base your responses. If you already submitted your comments and/or replies, there is no need to change or add to it.) 1. Do you recall reducing consumption in some good or service due to higher prices recently? Try to give examples about one item that you have reduced consumption and another for which you have not reduced consumption that much. Why do you think you made that choice? 2 Are there any new products that you think should be included in the basket of the CPI that may not be currently included? No need to provide the correct answer. Just open the conversation to what goods may not be in the basket because they are too new. For example, think about cellphones. They have been available since 1983 but added to the basket in 1998. Though. not exactly the same kind as we use now. 3. ls there any product that you think have signicantly improved in quality in a way that the CPI overstates the price increase because the higher price is in part due to a better or improved product Rather than a higher price for an exact same product. Again, think cellphones. Explain
