Data Analysis: Economic Growth and the American Dream

Name(s): Jake Kreidel

Analysis Item Analysis Summary Student Notes

Analysis 1. Gross The GDP of the United ( How would you describe
Domestic Product (GDP)*, States was $14.66 trillion the trend in GDP shown in
1970-2010 in 2010. this graph?)As the years go
by, the GPD increases at a
faster and faster rate.

Analysis 2. Change in In 2000, the middle- (How do the trends in

Incomes by Income income group earned percent of national income
Group, 1970-2009 14.8 percent of all income earned by various groups
earned in the United compare with the trends in
States. GDP shown in Analysis
1?)As time passes, the
percentage grows bigger at
a faster rate than the last

Analysis 3. Education, In 2010, 87.1 percent of (How do you think

1970-2010 people over age 25 had household income is related
graduated from high to college graduation
school. rates?)Household income is
related to college
graduation rates because
people who graduated from
college most likely have
better careers than those
who don’t.

Analysis 4. Consumer The Consumer Price (How might an increasing

Price Index,* 1970-2010 Index in 1990 was 66.9. Consumer Price Index
affect a working family?)A
working family may struggle
with an increasing CPI if
they don't make more
money as prices increase.
Analysis 5. Health Care In 1970, U.S. citizens ( How do increases in
Costs, 1970-2009 spent $63.1 billion on national expenditures for
health care. health care compare to the
increases in GDP shown in
Analysis 1?)As the cost for
good increases, that also
includes healthcare
spending.

Big Picture Question — As money fluctuates a little

How has American life bit, it still manages to go up,
changed over the past 40 causing inflation as people
years as a result of make more money and the
economic fluctuations? cost for goods increases.
Starting 40 years ago, the
GPD was only 1.04 Trillion,
and now it is 14.66 Trillion,
almost 14.4 times more!
This data shows that not
only does it increase as
time goes on, the rate that it
increases also rises rapidly.
The percentage of people
graduating from college and
high school also increases
as the need for a better
career and education is
required when there is
inflation.