Tag: GDP

Explain the effect of recent changes to trade and tariff policies have had on your employer, you, or someone you know.

International Trade Summary

Promoting international trade is not a zero-sum game. It is a win-win proposition; both parties gain from trade.

Consider the following:

Tariffs are paid by the citizens of the country imposing tariffs, not by the citizens of the country producing the products upon which the tariffs are levied.

The term “trade deficits” is a misnomer. Every country’s trade is always in balance.

Trade deficits do not mean the US no longer produces anything to export. The US is the world’s second largest manufacturer and the world’s second largest exporter of manufactured goods.

Trade deficits reflect a strong economy. Trade deficits rise during economic expansions and fall during economic contractions. Unemployment falls as trade deficits rise and rises as trade deficits fall.

Imports and exports are complements, not competitors. Both are necessary and both contribute to economic growth.

Roughly one-third of all US imports and exports is trade between US multinational companies and their overseas subsidiaries.

Foreign-owned companies operating in the US number in the thousands and provide directly or indirectly jobs for more than 13 million US workers (roughly, 10% of the US workforce).

US trade deficit in goods in 2018 (as a % of GDP) was the same as it was 5, 10 and 15 years earlier.

The rise in US goods trade deficit with China has not increased the US total goods trade deficit. It has been offset by reduced goods imports from other trading partners.

There is a strong correlation between the rise in world trade and:

The rise in world GDP

The dramatic fall in the world’s extreme poverty rate

The rise in world life expectancy

For every US manufacturing job lost to trade between 2000 and 2010, seven US jobs were lost to domestic productivity improvements. Those seven jobs cannot be brought back from overseas because they never left the US.

Write a 700- to 1,050-word evaluation of credible economists’ unbiased opinions on the benefits, costs, and results of current US trade and tariff policies. Complete the following in your evaluation:

Evaluate how US trade policy changes in the last 2 years affect global trade activities by multinational corporations.

Discuss credible economists’ opinions on the long-term effects of trade and tariff policies changes in the last 2 years.

Explain the effect of recent changes to trade and tariff policies have had on your employer, you, or someone you know.

Cite at least 2 academically credible sources.

Format your assignment according to APA guidelines.

Examine externalities and unintended consequences of such intervention. For example, consider whether the SNAP program and health coverage for low-income families result in higher future tax revenues because low-income children grow up healthier and produce higher incomes over their lifetimes.

Government Intervention Analysis

Analyze 1 of the following government intervention programs:

Countercyclical fiscal policies (countering economic disruptions such as the housing bubble and the Great Recession)

Write a 700- to 1,050-word summary of your analysis.

Identify the intervention and the market failure leading up to the intervention. Complete the following in your paper:

Analyze the arguments for government intervention as opposed to arguments for market-based solutions.Hint:See the information about market failures.

Examine who has been helped and who has been hurt by the selected government intervention.

Examine externalities and unintended consequences of such intervention. For example, consider whether the SNAP program and health coverage for low-income families result in higher future tax revenues because low-income children grow up healthier and produce higher incomes over their lifetimes.

Analyze whether cost of the intervention you selected as a share of GDP or the number of participants is increasing,decreasing, or varies with the state of the economy, based on the cost trend(or number of participants) since its inception or since 2000.

Analyze credible economists’ opinions on the success or failure of the intervention that you chose in achieving its objectives.

Recommend whether the program should be continued as is, discontinued, or modified based on your conclusions. Defend your recommendation.

Note: Use of charts and graphs is encouraged with appropriate citations. Any charts or graphs retrieved from the Federal Reserve Bank of St. Louis FRED website may only be included when the data sources used by FRED are US government sources such as the Bureau of Economic Analysis or the Bureau of Labor Statistics.

Cite at least 2 academically credible sources.

Format your assignment according to APA guidelines.

Resources:

Examine factors that may affect the business cycle.Evaluate the health of the current U.S. economy by its GDP, business cycle, and economic growth.

Paper detalis:

Gross domestic product (GDP) is defined as the value of final goods and services that are produced in a country’s territories within a certain time period, usually a year.

In your paper,

Assess GDP’s importance.

Examine the shortcomings of GDP in measuring a country’s economic health?

Discuss using GDP to evaluate the business cycle.

Examine factors that may affect the business cycle.

Evaluate the health of the current U.S. economy by its GDP, business cycle, and economic growth.

The Measure of Economic Health paper

Must be three to four double-spaced pages in length (not including title and references pages) and formatted according to APA style as outlined in the Writing Center’s APA Style (Links to an external site.) resource.

Must include a separate title page with the following:

Title of paper
Student’s name
Course name and number
Instructor’s name
Date submitted

For further assistance with the formatting and the title page, refer to APA Formatting for Microsoft Word (Links to an external site.).
Must utilize academic voice. See the Academic Voice (Links to an external site.) resource for additional guidance.

Must include an introduction and conclusion paragraph. Your introduction paragraph needs to end with a clear statement that indicates the purpose of your paper.

For assistance on writing Introductions & Conclusions (Links to an external site.) as well as Writing a Thesis Statement (Links to an external site.), refer to the Writing Center resources.

Must use at least three scholarly, peer-reviewed, and/or other credible sources in addition to the course text.

The Scholarly, Peer-Reviewed, and Other Credible Sources (Links to an external site.) table offers additional guidance on appropriate source types.

If you have questions about whether a specific source is appropriate for this assignment,contact your instructor.

Your instructor has the final say about the appropriateness of a specific source for a particular assignment.

Must document any information used from sources in APA style as outlined in the Writing Center’s Citing Within Your Paper (Links to an external site.) guide.

Must include a separate references page that is formatted according to APA style as outlined in the Writing Center.

See the Formatting Your References List (Links to an external site.) resource in the Writing Center for specifications.

https://au.waypointoutcomes.com/assessment/25125/preview

Explain the experience of the Asian countries as for example Hong Kong, Taiwan,China and compare their growth rate with the USA. On the other hand compare the experience of the Eastern European and African countries.

The essay should be about 2 pages font size 12. A minimum of 2 pages is required.

Do not put unnecessary information and also do not write the essay like a short answer type question.

The essay should include an introduction with theoretical background, the body paragraphs (maximum 2 body paragraphs) and a conclusion followed by a reference list.

2) The essay should be in your own words. Plagiarism is strictly prohibited. Anyone copying and pasting materials from the internet will get a grade of zero.

3) If you want to answer using graphs please use the website

www.tradingeconomics.com

https://fred.stlouisfed.org/

https://www.kansascityfed.org/research

4) There will be more than 1 submission attempts. I will leave my comments after your initial submission so that you have the choice to go and re-do if needed.

5) You will be graded based on the rubrics provided.

6) Choose ONE of the following topics.

ESSAY TOPICS

1) “Is GDP the true measure of well- being?” Here you can either use the US economy or any other economy of your choice and also use a couple of pre – packaged graphs from

www.tradingeconomics.com

Address in your essay the relation between annual growth rate of GDP and unemployment rate.

Reference: Look at pages 155,156 and 157 of

https://openstax.org/details/books/principles-macroeconomics-2e

2) Is a strong dollar better than a week dollar. Write using the concepts you learned from Chapter 16 on Exchange rates.

Reference: Look at pages 388 and top of page 389 of

https://openstax.org/details/books/principles-macroeconomics-2e

3) Convergence and Divergence of Rich and Poor Nations. Use the Chapter on Economic Growth to write this essay.

Are there persistent gaps in the growth rate of real GDP per capita or are the economies converging?

Explain the experience of the Asian countries as for example Hong Kong, Taiwan,China and compare their growth rate with the USA. On the other hand compare the experience of the Eastern European and African countries.

Reference: Look at pages 178 to 183 of

https://openstax.org/details/books/principles-macroeconomics-2e