Reference no: EM13754555
Part -1:
1. Why does inflation make nominal GDP a poor measure of the increase in total production?
2. Which component of GDP will be affected by each of the following transactions involving FlyCheap Airlines? If you do not believe any component will be affected, briefly explain why.
i. You purchase a ticket on a FlyCheap Airlines to visit your niece.
ii. FlyCheap Airlines purchases a new jetliner from Boeing.
iii. FlyCheap Airlines purchases new seats to be installed on a jetliner it already owns.
iv. FlyCheap Airlines purchases 200 million gallons of fuel.
v. A French citizen purchases a ticket to fly on a FlyCheap flight from Paris to New York.
vi. The city of Nashville agrees to spend funds to extend one of the runways so that FlyCheap will be able to land larger jets.
3. Use the table to answer the following questions.
Year
|
Real GDP (Billions of 2000 Dollars)
|
1993
|
$7,113
|
1994
|
7,101
|
1995
|
7,337
|
1996
|
7,533
|
1997
|
7,836
|
i. Calculate the growth rate of real GDP for each year from 1994 to 1997.
ii. Calculate the average annual growth rate of real GDP for the period from 1994 to 1997.
iii. How does the average annual growth rate you calculated in (ii) above compare to the average growth rate the U.S. normally expects?
4. In an open economy, trade is allowed between countries. Assume a consumer purchases $1,000 worth of furniture manufactured in China. Answer the following:
a. Which component(s) of GDP are impacted by this purchase?
b. Does GDP increase, decrease or stay the same? Briefly explain why.
c. Does your answer change if the company in China is a U.S.-owned company? Why or why not?
5. Describe the relationship between labor productivity and growth? How do technological advancements impact labor productivity?
Part -2:
Your professionally written postings should provide substantive depth that advances the discussion. Also, please be sure to edit your posts for grammatical errors before you post.
Topic 1
The national income accounts measure productivity, spending, and income; but these accounts were not designed to measure economic welfare. Discuss aspects of economic welfare ignored in GDP. HINT: Do a "Google" search on the Genuine Progress Indicator and compare this with GDP in terms of measuring economic welfare.
Topic 2
What factors might contribute to a low growth rates in a country? Why do some poor countries, such as Botswana, experience higher growth rates than others when all face the same challenges such as the HIV epidemic? Compare growth rates across countries by visiting The World Bank website (https://data.worldbank.org/indicator). How does GDP growth (GDP growth (annual %)) compare across developed countries such as the U.S. and poorer countries such as Nigeria. Why might growth rates of developed nations be lower than those of poorer countries?
Explain the japanese internment during world war ii
: Explain the Japanese internment during World War II. Now you have the chance to do some research and put together what you discover into a short essay.
|
How equilibrium would be restored in the circular flow
: Explain how equilibrium would be restored in the circular flow of income if there were a fall in investment.
|
Describe the recommended change
: Describe how the HR program /policy / process / procedure / initiative that has been proposed should be changed.Describe three (3) reasons why this change is important to make.Describe the recommended change.
|
Determine the best uses of 3g and 4g technology
: Compare the pros and cons of 3G and 4G technology to determine the best uses of 3G and 4G technology in today's applications
|
Calculate the growth rate of real gdp
: Calculate the growth rate of real GDP for each year from 1994 to 1997 and calculate the average annual growth rate of real GDP for the period from 1994 to 1997 - Does GDP increase, decrease or stay the same? Briefly explain why.
|
As the administrator of a local nursing home,
: • As the administrator of a local nursing home, you have just received notification that the organization is being purchased by a national group. Because of new policies to be implemented, many of the residents will be displaced. To make the situatio..
|
Agree or disagree with the way this situation was handled.
: Stakeholder management is critical to the management of a BPM process. Write an essay that evaluates William Fung's first interaction with the TS Group's Chinese subsidiaries. According to the case study, he revised some financial policies, but the g..
|
Assuming that all inventory purchases are made on credit
: Jensen Tire had two large shipments in transit on Dec 31. One was a $130,000 inbound shipment of merchandise (shipped Dec 28 FOB shipping point), which arrived at Jensen’s receiving dock on Jan 2. The other shipment was a $95,000 outbound shipment of..
|
Current ethical and legal concerns
: Evaluate the current ethical and legal concerns surrounding your topic. Compose an executive summary highlighting the paper's contents and reasoning for your chosen topic
|