Economic Advisers Post

timer Asked: Dec 15th, 2018
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Question description

All the requirements on the attached file.

you must answer all 4 questions in complete paragraph, so the total are 4 paragraphs.

The four key terms are you must include are ( aggregate demand, asset, balance sheet, central bank, expansionary monetary policy, reserve requirement, appreciating, depreciating, foreign exchange market, foreign direct investment (FDI), balanced budget, payroll tax, absolute advantage, gain from trade) and more key-terms you can find on the link below. And don't forget to make them Bold

Council of Economic Advisers Post: 40 Points Your “Economic Adviser” Post (40 points) must be completed by Sunday, December 16th at 11:59 p.m., and posted as a thread on Canvas to receive full credit. This date is not flexible so mark your calendar. It is not necessary to make any replies to the posts of other students to receive full credit for your post. Background: You have just been randomly selected to participate in a student focus group conducted by the Council of Economic Advisers. Your selection does not imply that you supported the President in the last election or that you agree with his views. In preparation for the focus group meeting you are asked to prepare a written Discussion Board Post which describes the state of the aggregate economy and outlines possible policy options that can be pursued by the administration during the next 2 years. Your post should consist of your complete responses to the four questions posed below. At least one complete paragraph should be devoted to each question. Please number your responses to the questions below and carefully read the “Requirements” section below. Your posting should employ economic reasoning and apply the concepts that you have learned in Econ 2 Online. Questions: 1. What do current economic data tell us about the health of the economy? Assess the current health of the U.S. economy by evaluating the key economic indicators that we have looked at in this course. How close is the overall economy to potential GDP and the natural rate of unemployment? The relevant economics statistics include the growth rate of real GDP, the unemployment rate, and the inflation rate at a minimum. You are encouraged to discuss and evaluate other economic indicators that could add to a more complete picture of the current state of the economy. Much of the basic information that you need to complete this question should be available to you from previous discussions although you are encouraged to refer to other online sources. (The FRED website is a valuable resource for current economic statistics: The FRED Policy Dashboard: is a good source to review the basic macro indicators that we have studied in Econ 2 Online. You are welcome to include tables and/or charts to illustrate your data as long as you cite your source(s) carefully. Trading Economics is another valuable source for current economic indicators and statistics: 2. Since the trough of the last recession in 2009 the United States has experienced one of the longest business cycle expansions on record although until recently the upswing has been characterized by relatively low rates of economic growth. Outline and explain two macroeconomic issues/challenges facing the United States that could possibly 1 move the economy away from full-employment GDP and create a recessionary gap? You may want to consider the challenges posed by the growing budget and trade deficits that are discussed in your text. Utilize the GDP equation (GDP=C+I+G+X-M) as the framework for crafting your answer. 3. Globalization has pulled hundreds of millions of people out of poverty in China and India and other countries in Asia. Global equality appears to be increasing through the principle of “comparative advantage” as discussed in Chapters 10 and 20. How should the convergence of global incomes be weighed against the structural changes that globalization has required in the United States and other developed economies? Was the Trump administration justified in renegotiating the North American Free Trade Agreement (NAFTA) in the interests of the United States? Should the administration renegotiate trade deals with other countries such as China given the potential negative effects on incomes in those countries? Why or why not? Should workers who lose their jobs due to foreign imports be compensated for their lost incomes? Explain your reasoning utilizing the concepts introduced in Chapters 10, 20, and 21 of your digital text. 4. The Council of Economic Advisers requests that you carefully describe and explain at least two long run macro policy options that the President can consider to boost productivity growth and potential GDP. These policies should shift the Long Run Aggregate Supply curve (LRAS) out over time. Please note that fiscal and monetary policies are not long run policies. Discuss which perspective was more useful in developing your two policy options: the Keynesian Perspective or the Neoclassical Perspective? Utilize the AD/AS framework in framing your answer. Requirements: -In total your post should be at least 4 paragraphs with at least one numbered paragraph devoted to each question above. - Apply at least four economic concepts (Key Terms) from Chapters 11, 12, 13, 14, 15, 16, 17, 18, 20, and 21 in your post. -Make sure that you highlight and/or bold each Key Term that you apply and include the chapter reference to the text in parenthesis. -You are required to cite at least two recent online sources to support the statements in your post. Your task is to find “authoritative” online sources written by economists or serious economic journalists with macro content and then explain the information in your own words. -Cite any and all outside sources, including blogs and websites with enough detail so that I can easily find it. The APA style of citation is recommended although the MLA & Chicago styles are acceptable also. Include a reference (works cited) list for all of your sources. The Saddleback College Library has resources that will help you cite your sources. See: Provide a hyperlink for all information from the internet so that the reader can find the article/post quickly on the web. 2 -You are responsible for checking to make sure that your post is visible on Canvas within a thread. You are responsible for double checking to make sure that your post is visible to all. You can also attach your post as an appendix in PDF or Word format if you have trouble with formatting within your Canvas thread. If I need to click on an attachment to grade your post you will lose two points. Grading Rubric: 1) Clarity and conciseness of writing- at least 4 separate paragraphs 2) Correct application of course concepts and 4 Key Terms from Chapters 1118 and 20-21. 3) Critical thinking - Did you back up any normative statement or opinion with economic reasoning? Make sure that your post is analytical. Economists appreciate data and dislike data free conversations. Relate your post to what you have learned in the class. It is always a good idea to bring in examples or concepts from class readings. 4) Sources-did you properly cite at least two outside sources? Did you include a Works Cited list for all of your sources? Points will be subtracted if the language in your posting is so muddled as to be unclear; or if there are major errors in punctuation, spelling, grammar, and usage that are obvious and distracting. Please leave a blank line between each numbered paragraph. Use a spell-check program and proofread your post prior to submitting. It is also a good idea to have someone else proofread your post for both grammar and the logic of your argument. My overall impression of your post will certainly be diminished if there are numerous errors. Ten points per day will be deducted if your post is submitted after the deadline: Sunday, December 16 at 11:59 p.m. 3

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School: Boston College



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Question 1
The US economy is healthy considering critical economic parameters. The increase in
real GDP in the first quarter of 2018 was 2% per annum. The GDP growth rate projection is to
remain between 2% and 3% ideal range. There is forecasting of unemployment continuing at the
natural rate. There is no indication of significant inflation or deflation. The US has lost its
absolute advantage in producing products such as, oil, telecommunication equipment, industrial
supplies, clothing, and automobiles since it imports from countries which produce them
efficiently. Thus, the US has become of a service-focusing economy since it supplies its services.
The recommendable growth is one with mode...

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Good stuff. Would use again.

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