ECON 251: PRINCIPLES OF MACROECONOMICS
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages
ECON 251: PRINCIPLES OF MACROECONOMICS
ASSIGNMENT FOR FRIDAY NOVEMBER 2, 2018.
DUE: MONDAY NOV. 5. LATE SUBMISSIONS WILL NOT BE ACCEPTED. !!!
1. Using the income identity: Yd = C + S, derive the following two equations: [10 pts.]
a. APC + APS = 1
b. MPC + MPS =1
2. Answer the questions below using the following data.
Disposable Income ($) Consumption ($)
a. Determine the marginal propensity to consume [5 pts.]
b. Assuming that net taxes are equal to $200 regardless of the level of income, draw a graph relating consumption against income (NOT disposable income). [5 pts.] (Hint: income –taxes = disposable income).
3. The lesson we learned from the circular flow model was the fact that the GDP can be measured in two equivalent ways: the expenditure approach and the incomes approach. Use the following data to answer the questions below.
National Income Accounts :
Net investment 110 Income earned but not received 60
Depreciation 30 Income received but not earned 70
Exports 50 Personal income taxes 50
Imports 30 Employee Compensation 455
Government Purchases 150 Corporate profits 60
Consumption 400 Rental income 20
Indirect business taxes 35 Net Interest 30
Proprietors’ income 40 Net earnings of U.S resources abroad 40
a. Calculate the GDP using both approaches, and verifying that both approaches yield the same GDP value. [10 pts.]
b. Calculate: [20 pts.
i) NNP =
ii) NI =
iii) PI =
iv) DI =
4. The following tables gives the U.S. GDP in 1002 prices ( 1992=100) and the corresponding consumer price indices.
Year GDP Consumer Price Index (1992=100)
1980 4611.9 82.4
1985 5329.5 107.6
1990 6138.7 130.7
1995 6739.0 152.4
Convert the base year of the prices indices from 1992 to 1985. Using the converted price indices, recalculate the real GDPs to 1985-based real GDPs. Then calculate the average annual growth rate from 1980 to1985; from 1985 to 1990; and from 1990 to 1995. Then calculate the overall average annual growth rate for 15 –year period. [15 pts.]
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points: Student failed to submit the final paper. 5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors 10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points: Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.
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