You own an economic research company. To make decisions concerning the size of its labor force and
Question:
You own an economic research company. To make decisions concerning the size of its labor force and changes in investment, the board of a major national corporation has commissioned you to forecast the U.S. GDP rate of growth for the next calendar year. The research paper that you will submit to the board should provide an extensive analysis of the current and future economic conditions and should include, but not be limited to, the following:
1. A discussion of the past 10 years of GDP growth rate data
2. A discussion of the past 10 years of employment/unemployment data
3. A discussion of the past 10 years of inflation data
4. A discussion of the recent and future legal climate and its effect on the rate of GDP growth for next year
5. A discussion of the current and potential political events and their possible impact on the rate of GDP growth for next year
6. A discussion of the current and potential global political events and their possible impact on the rate of GDP growth for next year
7. A discussion of any significant recent and future social and cultural trends, in the country and around the globe, and their potential impact on the rate of GDP growth for next year
8. A discussion and critique of at least two prominent organizations'/economists'/publications' predictions for GDP growth for next year. In your opinion, what are the weak points in each analysis and prediction? Is anything over- or underemphasized in each of the analyses?
9. Your conclusion: In your opinion, which of the discussed predictions is best and why? Would you use the same figure in your forecast, or would you make adjustments to your choice of best forecast? What kind of considerations did you make in making adjustments to your choice of best forecast? How does your forecast compare to the forecasted figures by some of the other reputable organizations/publications that you did not include in your previous analysis?