The news about what will happen next "to the economy" is often a reflection of what the Gross Domestic Product (GDP) statistics tell us.  (FUN FACT: This statistic is a creation evolved from WWII's Marshall Plan and was one of the assessments to determine how U.S. financial aide would be split between countries in Europe. Simon Kuznets received the Nobel prize for inventing it.) In the U.S., GDP is reported by the Bureau of Economic Analysis four times per year (quarterly) and is also reported with revisions, as more accurate data is collected estimating the annual rate of growth in the GDP statistic. 

Here's your task for this week.  First, watch the short video "How to Spot a Misleading Graph" found at https://youtu.be/E91bGT9BjYkLinks to an external site.  and make note of things to watch for when evaluating graph data.  Second, go to the linkhttps://www.visualcapitalist.com/how-to-spot-fake-news/Links to an external site. and review the suggestions they make (at the bottom of the page) for how to identify potential "fake news".  Next, find a video, article or news clip stating whether the economy will strengthen (grow) in the coming months or weaken (recessionary) in the coming months and uses graph data to make their case.  Your job is to then:

1. Assess and report upon the validity of the article by making note of whether the article is referencing any aspect of what you've learned in this chapter about the components of GDP (Household consumption, Investment, Government, Net Exports as examples.)  Identify which components are reflected in the article.
2. Assess and report upon the validity of the graphed data used.  Are any of the "tricks" mentioned in the TED talk used?  Do any of the "fake news" characteristics reported in the www.visualcapitalist link appear to be used?
3. State the article's belief that the economy will strengthen or weaken.
4. State whether you  agree or disagree with the article based upon what you've learned in the current chapter of study.
5. Include the URL link to your article or video
6. Be sure to respond to two fellow students' posts to confirm or improve upon their analysis.  Did any of your classmates find manipulated data?

Answer rating: 100% (QA)

To complete this task Ill first watch the video How to Spot a Misleading Graph and take note of the ... View the full answer