Question

Step 1
Choose the following states to work with. They are used as representatives of
different regions of the U.S.
California, Minnesota, Texas, Florida, New York, MA

Step 2
Use the resources available at the library or online to get information on the
following macroeconomic measures for each of the 6 states for the year 2018.
You must collect all the six pieces of information indicated below for each state.
Make sure the data is in the right units.

i. Real GDP (in US$) since this is for a state it is called Gross State Product
ii. Size of Population (in millions)
iii. Labor Force (in millions)
iv. Per Capita income (in US$)
v. Unemployment rate (percentage)
vi. Consumer Price Index (CPI).

Step 3

Use the data on the above 6 variables collected by you to write a paper on how the
6 states compare to each other and which of these states would you rather live and
work in. You are free to use any additional information you want. Include the above
Excel data spreadsheet with all the data in your report.

Step 4

(written 3 pages minimum + 1-page data
spreadsheet + citations, MLA format)

Answer 1

Links to data sources:

1)https://www.bea.gov/data/gdp/gdp-state

Data is in Release tables only

2)Size of population

https://www.census.gov/data/tables/time-series/demo/popest/2010s-state-total.html#par_textimage_1574439295

Data is in  Annual Estimates of the Resident Population for the United States, Regions, States, and Puerto Rico: April 1, 2010 to July 1, 2019 (NST-EST2019-01)

3)Labor Force

https://www.bls.gov/news.release/laus.t01.htm

4)Per capita Income

https://www.bea.gov/data/income-saving/personal-income-by-state

Data is in Tables Only

5)Unemployment Rate

https://www.bls.gov/web/laus/laumstrk.htm

6)CPI

https://www.bls.gov/cpi/tables/relative-importance/2019.pdf

Data in Table 7