economics essay

please read the description below and write an essay. please answer all the questions listed below but in a paragraph form. should be atleast 1000 words
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PRINCIPLES OF MACROECONOMICS
Worksheet Assignment-Cover Sheet
Student’s Name: _______________________________________
Class: ECON 2301________ Section: _____________________
Due Date: ___APRIL 8, 2018_____________
Assignment Instructions
Be sure to show all of your work and how you arrived at your answer. Label your
diagrams clearly (where applicable). Your work must be typed and submitted
electronically (via e-Campus). You may complete your work in the space provided
in this worksheet. Include the worksheet and cover sheet in your uploaded final
work
Note: You will receive no score if you fail to adhere to the above instructions.
Please watch this video to understand how to upload your assignment.

Question 1
In a short (brief) paragraph using complete sentences, define unemployment and from the data
below calculate and explain unemployment rates for 2014 and 2015(20 points)
2014
2015
Population
224
227
Adult Population
168
170
#Unemployed
7
8
# Employed
105
104
Assessment Codes CT, VC, WC, EQS
Question 2A.
Given the national income accounts, (NI) data below (ALL figures are in billions of dollars)
compute National Income using the Income Approach (10points)
National Income data
Consumption
Compensation of Employees (Wages and salaries)
Investment
Government spending
Profits
Exports
Imports
Interest
Rent
$ AMOUNT(in Billions)
$9,269
$7,489
$2,212
$2,527
$2,631
$1,466
$2,229
$509
$77
Inflation data
Year
2011
Price of
Books $
$50
Quantity of
Books
10
Price of
Pencils $
1.00
Quantity of
Pencils
100
Price of
Pens $
$5
Quantity of
Pens
100
2012
$50
12
1.00
200
$10
50
2013
$60
12
1.50
250
$20
20
The Inflation data above shows the prices and the quantities consumed in a college bookstore.
Using 2011 as the base year
Question 2B.
Calculate the inflation rate between 2012 and 2013 using the CPI approach.
Calculate inflation using the GDP deflator index; explain why consumer price index (CPI)
overstates inflation when compared to inflation rate determined by using GDP deflator.
(15 points)
Assessment Codes CT, WC, EQS
Question 2C.
Using data from Bureau of Labor Statistics (BLS) Tables 2 and 3 in the months of August 2015
Seasonally Adjusted, compare and contrast Labor force participation rates (LFPR) of four
demographic groups: Whites, African –American, Asian and Hispanic. Evaluate and discuss the
differences in their LFPR (25 points)
https://www.bls.gov/news.release/archives/empsit_09042015.htm
https://www.bls.gov/webapps/legacy/cpsatab2.htm
https://www.bls.gov/webapps/legacy/cpsatab3.htm
Assessment Codes CT, WC, EQS
Question 3
Different societies view unemployment differently. Some view it as a social ill and others as an
economic problem. For instance the USA unemployment insurance (UI) is used by the
government to provide a safety net to those that have lost their jobs due to no fault of theirs.
In 250 words, discuss, compare and contrast the unemployment of the USA culture with that of
Singapore. Cite your work. (30 points)
Assessment Codes CT, WC, SR
Grading Rubric for Macroeconomics SLO #3 (Unemployment, National Income & Inflation)
POOR
1.Interpretation
Ability to define
and explain a
concept with
words, equations
and empirical data
Unemployment
Definition and
Explanation
(10 points)
Poor Definition
Did not include
BLS key phrases
GOOD
Partial
Definition
Partially included
BLS key phrases
(6 points)
2a. Data
Poor
Manipulation
Calculation
Ability to calculate from Did not calculate
a given set results,
or show work
draw appropriate
conclusions based on
quantitative analysis
EXCELLENT
Full Definition
Fully included BLS
key phrases
( 10 points)
(8 points)
Partial
Calculation
partially
calculated with
minor errors,
showed work
Compute
National Income
using Income
Approach
(10 points)
Full Calculation
Full and accurate
calculation,
showed work
(10 points)
(6 points)
2b. Application /
Analysis
Ability to make
comparison,
analyze and draw
appropriate
conclusion
Poor
Application
/Analysis
Did not calculate,
make
comparison,
analyze or draw
(8 points)
Partial
Application/
Analysis
Partially
calculated, made
Full
Application/
Analysis
Full and accurate
calculation,
comparison,
analysis with
Calculate
inflation rates,
compare CPI
and GDP deflator
(15 points)
2c.
Representation
appropriate
conclusion
(9 points)
comparison,
analyze and draw
partial conclusion
(12 points)
appropriate
conclusion
( 15 points)
Poor
Did not retrieve
data, used wrong
data
Partial
Retrieved data,
partially analyzed
and compared
variables
Full
Retrieved data,
Fully analyzed
and compared
used wrong data
(18 points)
(24 points)
( 30 points)
Poor Economic
3.Communication Reasoning
Ability to write and Lacks
synthesize ideas
development and
applying economic synthesis of
reasoning to draw
ideas, economic
inferences and
reasoning, and
appropriate
failed to
conclusions.
demonstrate
Compare and
intercultural
contrast
competence and
unemployment
awareness
culture of US and
Singapore
Partial
Economic
Reasoning
Partially
developed and
synthesized ideas,
applied economic
reasoning, but
scant
demonstration of
intercultural
competence and
awareness
Full Economic
Reasoning Full
developed and
synthesis of
ideas, fully
applied economic
reasoning and full
demonstration of
intercultural
competence and
awareness
(25 points)
(20 points)
Ability to retrieve
data from a
database analyze,
compare and
contrast variables
to form appropriate
economic
conclusion
Compare and
contrast
differences in
LFPR
(30 points)
(16 points)
(25 points)
Sources and
Evidence
(10 points)
No citation
(0 points)
Partial citation
(8 points)
Full citation
(10 points)

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