1. Go online* and find the USeconomic growth rate and trends
1. Go online* and find the USeconomic growth rate and trends over the past 30 years. Compare thesefindings to the same data for China and India. Write a paragraph tosummarize your findings and comment on what explains the variation inthese data. Report your source in APA or MLA format.You mustrestrict your search to primary sources e.g. government sites oracademic sites (.gov or .edu) or current events articles from reputablenews outlets, and provide your own analysis. Steer clear of sites likebalance.com/about.com, investopedia.com, amosweb.com, economicshelp.org,etc. Sites like these are terrible sources! Report your source in APAor MLA format.2.What is economic freedom and why is it importantfor economic growth? Go online and find an estimate of the current USGDP growth rate. A simple Google search such as ‘US GDP First Quarter2016’ or ‘US gdp growth’ will get you started. How does the US growthrate compare to the growth rate in other countries? What besideseconomic freedom explains these differences?’ Be sure to include a linkto an external source3.(1) Draw a generic Aggregate Supply(AS) and Aggregate Demand (AD) curve on a set of axes. Label yourvertical axis and your horizontal axis appropriately and indicate wherethe macroeconomic equilibrium is.(2) Then find a current eventsarticle that discusses some macroeconomic event that will affect eitherAS or AD. Represent this effect using a rightward or leftward shift asappropriate.(3) Interpret the effect on the price level, output,and unemployment in the context of your model as applied to your currentevents article.You must restrict your search to primary sourcese.g. government sites or academic sites (.gov or .edu), or reputablenews sites, and provide your own analysis. Steer clear of sites likebalance.com/about.com, investopedia.com, amosweb.com, economicshelp.org,etc. Sites like these are terrible sources! Report your source in APAor MLA format.4. What might cause the Aggregate Demandcurve to shift to the right? What does this mean for the state of theeconomy? What might cause the Aggregate Demand curve to shift to theleft? What does this mean for the state of the economy? Sometimesthe Aggregate Supply curve is drawn as an upward sloping straightline–other times it is drawn initially flat, then upsloping, then verysteep. How does the shape of the AS curve matter for the effect arightward or leftward shift of the AD curve will have on real GDP andthe price level? When do we expect a rightward shift of AD to causeinflation? When do we expect it to cause decreased unemployment? (Hint:Draw this out on a piece of paper for yourself to see what’s goingon).”Be sure to include a link to an external source5. Goonline and find the current rate of inflation in the United States andthe current federal funds rate. A simple Google search such as ‘USinflation rate 2016’ and ‘Federal Funds Rate Data’ should get youstarted. How does an increase in the money supply affect the rate ofinflation and interest rates?”Be sure to include a link to an external source 6.Goonline to find a news article that provides an example of expansionarymonetary policy and an example of contractionary monetary policy. Youmay use two different articles. What monetary policy did the FederalReserve employ in response to the Great Recession? What is the currentmonetary policy of the Federal Reserve? Write a paragraph to summarizeyour findings and answer these questions.You must restrict yoursearch to primary sources e.g. government sites or academic sites (.govor .edu) or current events articles (published by reputable newsoutlets) and provide your own analysis. Steer clear of sites likebalance.com/about.com, investopedia.com, amosweb.com, economicshelp.org,etc. Sites like these are terrible sources! Report your source in APAor MLA format.7. “How is fiscal policy used to addressproblems in the economy? How are the short run and long run consequencesof using fiscal policy different? What are the issues that complicatethe task for policy makers of using fiscal policy to manage the economy?Be sure to include a link to an external source 8. What is the effect of expansionary fiscal policy on unemployment and inflation? Go online and(1)Find a current events article that describes an example of expansionaryfiscal policy and that illustrates one or both of these effects. Yourarticle needs to be a ‘real-world’ or ‘current events’ example from areputable news site. It cannot be from study.com, investopedia.com,thebalance.com, or any similar study-aid site. Those sites are awful!For the actual economic content you can either cite our textbook or agovernment or academic site (.gov or .edu). The best articles will probably come from The New York Times, The Wall Street Journal, or The Economist(2) Write a paragraph to summarize your findings.(3)Be sure to incorporate your own analysis using ideas from the course toexplain the application of economics to the ideas found in yourarticle. 9. What are the advantages and disadvantages of afixed exchange rate? What are the advantages and disadvantages of afloating exchange rate? Under what conditions might it be a good ideafor a country to adopt a gold standard? Go online to find a news articlethat describes an example of a country that has changed their systemfrom fixed to floating or from floating to fixed. Write a paragraph tosummarize your responses.You must restrict your search to primarysources e.g. government sites or academic sites (.gov or .edu) orcurrent events articles (published by reputable news outlets) andprovide your own analysis. Steer clear of sites likebalance.com/about.com, investopedia.com, amosweb.com, economicshelp.org,etc. Sites like these are terrible sources! Report your source in APAor MLA format.
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