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46-60 min
Economics

Keeping It Real: Teach ACRL Information Literacy Frames with FRED® Data

OVERVIEW
In this activity, students first learn about the concepts of nominal values, real values, and inflation. Next, they learn about basic strategies for establishing the reliability of a data source. Students work in FRED® and use the formula real=(nominal/CPI)*100 to plot inflation-adjusted minimum wage rates for two states and then compare the results.
 
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