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Macroeconomics

I’m working on a Economics exercise and need support.

4. In-class Debate. I’m tentatively planning to hold our first debate in class *next Tuesday* on the question: “should the government tax or potentially ban ‘labor-saving’ inventions that could eliminate thousands of jobs like driverless cars, electronic kiosks, etc.?”

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If you would like to receive credit for this topic as one of your two required debate/Op-Ed grades (see the Grading section of the syllabus for a reminder), please do the following:

1. Write a 700-800 word Op-Ed taking a side on this issue. Please make sure it is double spaced, includes your name on the top-left corner, is properly cited using APA format (ideally you should have 3-5 references; they can include news articles, research papers, books, etc.), and draws from sound economic arguments. Completing this is the bare minimum requirement for receiving credit.

2. If you would like to enhance your grade (and potentially earn extra credit on the assignment), I would also like you to actively participate in the in-class discussion of this topic. I will try to set aside 10-15 minutes at the end of class to let any of you who might wish to speak give a summary of your opinion and respond to any objections and counter-arguments you would like to address. One of the goals of this in-class discussion is to foster a civil and respectful environment, so be sure to act appropriately and respect other’s opinions.

If you’re looking for some examples of what an Op-Ed should look like, I’ve pasted some of my own op-ed articles over the years on a variety of topics below. The only difference is that I would like you to add a works cited (i.e. references) for your submission so that I can clearly see where you got your source material. Please make sure the references are written in APA format (it’s super easy to do this on easybib.com and other sites). I will check for plagiarism, so be sure to use quotes and properly attribute your arguments where necessary.

https://fee.org/articles/losing-hearts-and-minds-the-failed-drug-war-in-afghanistan/ (Links to an external site.)

https://fee.org/articles/the-dangers-of-jill-steins-student-debt-magic-trick/ (Links to an external site.)

https://www.aier.org/article/trade-war-goes-bipartisan-and-the-fed-will-make-it-worse/ (Links to an external site.)

https://www.aier.org/article/prohibition-is-ending-in-college-sports/

Macroeconomics

[204] Unit 4 Assignment Template

This Assignment deals with how a nation’s income is measured using Gross Domestic Product (GDP). In doing so, it highlights the various components of the GDP, the difference between nominal and real GDP, and the limitations of the GDP as a measure of national income.

 

1) U.S. real GDP is substantially higher today than it was 60 years ago. What does this tell us, and what does it not tell us, about the well-being of U.S. residents? What are the limitations of the GDP as a measure of economic well-being? Given the limitations, why is GDP usually regarded as the best single measure of a society’s economic well-being?

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2) What is an intermediate good? How does an intermediate good differ from a final good? Explain why it is the case that the value of intermediate goods produced and sold during the year is not included directly as part of GDP, but the value of intermediate goods produced and not sold is included directly as part of GDP.

 

 

3) GDP is defined as the market value of all final goods and services produced within a country in a given period of time. In spite of this definition, some production is left out of GDP. Explain why some final goods and services are not included.

 

 

4) The table below contains data for country A for the year 2010.

 

Country A’s Goods and Services Total
Household purchases of durable goods $1293
Household purchases of nondurable goods $1717
Household purchases of services $301
Household purchases of new housing $704
Purchases of capital equipment $310
Inventory changes $374
Purchases of new structures $611
Depreciation $117
Salaries of government workers $1422
Government expenditures on public works $553
Transfer payments $777
Foreign purchases of domestically produced goods $88
Domestic purchases of foreign goods $120

 

 

Refer to the Table above to answer the following questions.

a. What was country A’s GDP in 2010?

 

b. What was country A’s consumption in 2010?

 

c. What was country A’s investment in 2010?

 

d. What were country A’s government purchases in 2010?

 

e. What were country A’s exports and imports in 2010? What was the net export in 2010?

 

 

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