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 economyâ&#x20AC;&#x2122;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

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ECO 372 Week 3 Worksheet

For more course tutorials visit www.eco372tutor.com

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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ECO 372 TUTOR A Clearer Path to Student Success/eco372tutor.com

ECO 372 TUTOR A Clearer Path to Student Success/eco372tutor.com

ECO 372 TUTOR A Clearer Path to Student Success/eco372tutor.com

ECO 372 TUTOR A Clearer Path to Student Success/eco372tutor.com