ECO 372 Week 1 Worksheet
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ECO 372 Week 1 Worksheet
Complete the Worksheet. Click the Assignment Files tab to submit your assignment. Week 1 Worksheet
1. Use the information in the table below to calculate Net Exports (NX) and gross domestic product (GDP), in billions of dollars.
Consumption Spending. . . . . .. . . . . . . . . . $12,000 billion Gross Investment Spending . . . . . . . . . . . . $3,100 billion Government Purchases. . . . . . . . . . . . . . .
$3,400 billion
Exports . . . . . . . . . . . . . . . . . . . . . .
$2,200 billion
Imports . . . . . . . . . . . . . . . . . . . . . .
$2,700 billion
1. Net Exports = $
1. Is this economy experiencing a trade surplus or a trade deficit?
1. c) Gross Domestic Product (GDP) = $ a) Give an example of an activity that is not included in GDP estimates (a non-market activity or an activity in the underground economy):
1. b) Is GDP designed to measure happiness? Discuss.
3. Suppose nominal GDP is equal to $16,000 billion and the GDP Deflator is equal to 125; calculate real GDP, in billions of dollars.
Real GDP = $
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ECO 372 Week 2 Worksheet
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ECO 372 Week 2 Worksheet Complete the Worksheet. Click the Assignment Files tab to submit your assignment. Week 2 Worksheet 1. What are discouraged workers? Are there likely to be more discouraged workers when the economy is booming or when the economy is in recession?
2. Even when the economy is strong, there will be some people who are unemployed because they recently entered the labor force or lost/left a job and are engaged in job search. What does this imply about the economy’s natural or full-employment rate of unemployment? Be specific.
3. Use the hypothetical data in the table below to calculate the Labor Force (in millions) and the rate of unemployment (as a percentage) in each year.
Unemployed
Employed
Year 1
9.6 million
150.4 million
Year 2
12.4 million
142.6 million
Year 1 Labor Force =
unemployment rate =
Year 2 Labor Force =
unemployment rate =
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ECO 372 Week 3 Team Paper
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ECO 372 Week 3 Team Paper
Each team member, other than the Team Leader, should select one of the five topics below. If a team has fewer than 6 members, you may leave off one or more topics so no one has to cover more than one. After selecting your topic and indicating your choice in the Team Discussion Forum, use the textbook and other sources to conduct your research, write your section, and edit your work (approximately 150 words in length). Follow the Team Leader’s guidance regarding how and when to post your portion and when to approve the final version of the paper. Topics to be addressed in the paper: 1. Provide some historical information about when and why the U.S. Federal Reserve was created. 2. Describe the structure of the Federal Reserve System, including the Board of Governors, the Federal Open Market Committee, and the 12 District Banks. 3. Why are the 12 Federal Reserve District Banks referred to as bankers’ banks (what functions do these banks perform)? 4. Explain how the Fed can cause the money supply to grow at a faster rate and how such expansionary policy is likely to affect interest rates, employment, output, and prices. 5. Explain how monetary policy can be used to slow down spending and bring inflation under control. Team Leader: After combining the sections written by each team member, format the paper according to APA standards. Include a cover page and add an introduction and conclusion. Add section headings to separate each team member’s contributions. Include properly-formatted citations on the last page. Post the final draft to be approved by each team member. Click the Assignment Files tab to submit your team’s paper.
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ECO 372 Week 3 Worksheet
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ECO 372 Week 3 Worksheet
Complete the Worksheet. Click the Assignment Files tab to submit your assignment. Week 3 Worksheet 1. List and briefly describe the functions of money.
2. What are the main components of M1 and M2?
3. What is the value of the deposit multiplier if the required reserve ratio is 20 percent?
4. Define the discount rate and the federal funds rate.
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