Submit a 4- to 5-page paper that addresses the following questions. Be sure to use references within the paper to support your answers. Show work for all calculations.
- (a.) Suppose real GDP was $13.1 trillion in 2013 and $13.3 in 2014, what is the growth rate? (b.) How many years would it take for GDP (gross domestic product) to double (using your answer from part (a)?
- What are the sources of human capital? Discuss some specific examples.
- What is the law of diminishing returns? Give an example of what the law of diminishing returns implies.
- What happens when the government raises taxes and uses revenue to engage in spending?
Use concepts from the modular background readings as well as any good-quality resources you can find. Be sure to cite all sources within the text and provide a reference list at the end of the paper.
Length: 4–5 pages double-spaced and typed.
The following items will be assessed in particular:
- Your ability to understand what factors affect economic growth.
- Some in-text references to the modular background material (APA recommended).
- The essay should address each element of the assignment. Remember to support your answers with solid references including the case readings.
When your paper is completed, upload it to the Case 5 dropbox
In this course, we have covered several important concepts such as GDP, unemployment, monetary and fiscal policy. For our final module you will apply these concepts to your firm.
- Pick a recent newspaper article (New York Times, Wall Street Journal, etc.) that focuses on your firm or industry. Describe the event and the issue for your firm. (summarize article by including, who, what, when, and where)
- Describe the basic issue and background behind the event.
- What economic principle(s) can be applied to the event or issue? Identify and briefly describe a specific principle that we have covered in one or more of the modules.
- How does this event impact the future of the firm or industry? For instance, what do you think would be the future outlook for the firm?
SLP Assignment Expectations
Use information from the modular background readings as well as any good quality resource you can find.Make sure you cite all resources you use and provide a reference list at the end of your paper.
Length: 2–3 typed and double-spaced pages.
In addition to the overall quality, depth, grammar, and organization of the paper, the following will, in particular, be assessed:
1. Analytical ability in relating a current event to the specifics of your organization.
2. Your ability to relate the economic concepts of this course to your specific organization
Upload the completed assignment to the SLP dropbox for this module.