Use the data in the Table below to answer the questions asked in a and b on each of the 3 variables for the US economy:

a. Calculate the annual changes in RGDP growth rates, unemployment rates and inflation rates in % for the years from Year 2007 through 2020 and show them in a new column next to each of the values of the three variables (a template of the table is given below).You may use excel spreadsheet for estimation as well.5 pts

Year

Real GDP in 2012 Base Year prices

RGDP growth rate in %

Unemployment Rate

Change in U rate in %

CPI Indices

Inflation rate in %

2006

15,338.3

-

4.4%

-

201.6

-

2007

15,626.0

?

5.0%

?

207.3

?

2008

15,604.7

?

7.3%

?

215.3

?

2009

15,208.8

?

9.9%

?

214.53

?

2010

15,598.8

?

9.3%

?

218.05

?

2011

15,840.7

?

8.5%

?

224.93

?

2012

16,197.0

?

7.9%

?

229.59

?

2013

16,495.4

?

6.7%

?

232.96

?

2014

16,912.0

?

5.6%

?

236.74

?

2015

17,432.2

?

5.0%

?

237.02

?

2016

17,730.5

?

4.7%

?

240.01

?

2017

18,144.1

?

4.1%

?

245.12

?

2018

18,687.8

?

3.9%

?

251.11

?

2019

19,091.7

?

3.5%

?

255.66

?

2020

18,426.1

?

8.1%

?

258.81

?

b. Based on those calculations, briefly analyze the overall economic performance over the last 14 years (2007-2020) and critically predict about these three macroeconomic variables for 2021-22. 5 pts

Note: please make sure you take into account of the sudden economic downturn in 2020 amid COVIOD-19 Pandemic crisis in your prediction and its subsequent recovery in 2021. In another words, while predicting the trend for 2021-2022 (based on the growth rates and trend you estimated in the table above), it is imperative to observe the most recent data on these three variables.