Paper for Econ 100

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Economics

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Assignment: The Key Concepts in Economics

Due Week 8 and worth 175 points

Write a three to four (3-4) page paper in which you:

  1. Identify at least four (4) key points of a relevant economic article from either the Strayer Library or a newspaper. The article must deal with any course concepts covered in Weeks 1-8.
  2. Apply one (1) of the following economic concepts (supply, demand, market structures, elasticity, costs of production, GDP, Unemployment, inflation, aggregate demand, and aggregate supply) to the key points that you highlighted in Question 1.
  3. Explain how the concept that you identified in Question 2 could affect the U.S. economy.
  4. In your concluding paragraph, state whether you agree or disagree with the economic article identified in Question 1. Provide a rationale for the response.
  5. Use at least three (3) quality resources in this assignment with one (1) being your article.

Your assignment must follow these formatting requirements:

  • Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
  • Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

The specific course learning outcomes associated with this assignment are:

  • Analyze the dynamics of supply and demand to anticipate market equilibrium.
  • Analyze the elasticity of demand and supply and its importance, and the effect of taxes or other public policies.
  • Describe the impact of various forms of competition on business operations with emphasis on perfect competition.
  • Use technology and information resources to research issues in principles of economics.\

Grading for this assignment will be based on answer quality, logic/organization of the paper, and language and writing skills, using the following rubric found here.

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Explanation & Answer

Attached.

Running head: THE KEY CONCEPTS IN ECONOMICS

The Key Concepts in Economics

Institutional Affiliation

Date

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THE KEY CONCEPTS IN ECONOMICS

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Key points from the economic article
In his article early this month Cox (2017), reported that President Trump acknowledged
that the U.S. debt and deficits are expected to rise but the rise would bring a growth in the U.S.
economy. One of the key points of the article is that there is an expectation of tax cuts and higher
government spending which could raise the rates of interest. According to the article, President
Trump has a plan of cutting taxes for individuals and business which will create more business
opportunities. Another major point of the article is that 2017 fiscal year may end with a $534
billion deficit which increases the national debt to $19.8 trillion. This will be an increase in
deficit by $100 billion than in 2016.
The article reports that President Trump has promised to end the culture of deficits and
debts by starting repaying the debts. Another major point of the article is that on top of cutting
taxes, President Trump also expects to raise the government spending whereby there is an
expectation of $1 trillion in government spending on various infrastructure projects. The other
major point of the article is that the Trump administration expects its proposal to gen...


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