1. What is the purpose of deflating a time series that is measured in dollars?
2. In the base period of June, the price of a selected quantity of goods was $1,289.73. In the most recent month, the price index for these goods was 284.7. How much would the selected goods cost if purchased in the most recent month?
1. Discuss the performance of the composite index of leading indicators as a barometer of business activity in recent years
2. What is the present position of the business cycle? Is it expanding or contracting? When will the next turning point occur?