GDP and CPI

GDP and CPI Order Description Chapter 7 talks about GDP and CPI, and why the government would differentiate between nominal and real measures of economic activity. In 2013, President Obama proposed changing the measure used to adjust tax brackets and Social Security benefits to the “chained Consumer Price Index.” Read this article from US NEWS: http://money.usnews.com/money/retirement/articles/2013/04/29/how-the-chained-cpi-affects-social-securitypayments Write a short essay (no more than 2 pages) explaining: 1) what are real and nominal measures, and define CPI (an index that converts nominal measures to real terms); 2) how chained CPI is different from regular CPI; which index (CPI or chained CPI) leads to smaller social security payments; 3) discuss who benefits and who loses from this change, and why. Writing Assignment Chapter 7 talks about GDP and CPI, and why the government would differentiate between nominal and real measures of economic activity. In 2013, President Obama proposed changing the measure used to adjust tax brackets and Social Security benefits to the “chained Consumer Price Index.” Read th is article from US NEWS : http://money.usnews.com/money/retirement/articles/2013/04/29/how - the - chained - cpi - affects - social - security - payments Write a short essay (no more than 2 page s ) explaining : 1) what are real and nominal measures, and define CPI (an index that converts nominal measures to real terms) ; 2) how chained CPI is different from regular CPI ; which index (CPI or chained CPI) leads to smaller social security payments; 3) discuss who benefits and who loses from this change , and why. Grading Rubric Your essay will be assessed as either “Meets expecta tions” or “Needs improvement”. If your essay needs improvement, you will be given feedback from NetTutor to help you revise it. You have one week from the time NetTutor returns your essay t o re - submit the revised essay to NetTutor for another try, but you only get one sec ond chance. Check your NetTutor account frequently after submission so you see their feedback as soon as possible. Below are the criteria your essay will be judged against. If your final paper meets expectations in both categories you will receive full credit. If your final essay fails to meet expectations in any or all categories you will receive partial credit. You will receive no credit only if you do not submit any essay to NetTutor . Your essay should be no longer than 2 pages long, with 12 point font and standard margins. It must be a format readable by MSWORD, so doc or rtf. Here are the criteria your essay will be judged against: Criterion Needs improvement Meets expec tations Writing ( 50% ) The writing is difficult to follow and/or poorly organized. Transition sentences are absent or ineffective. Typos and/or grammatical errors distract the reader. Ideas are well - organized. Transition sentences e ff ectively connect one idea to the next. The essay is free of typos and grammatical errors. Economic analysis ( 50% ) Real and nominal measures of the economy are incorrectly differentiated. The difference between the regular and Chained CPI is not clearly exp ressed. Winners and losers of the policy change are not identified. Real and nomina l measures of the economy are correctly differentiated. The difference between the regular and Chained CPI is clearly expressed. Winners and losers of the policy change are identified. PLACE THIS ORDER OR A SIMILAR ORDER WITH US TODAY AND GET AN AMAZING DISCOUNT :)