The main goal of this project is to help students to build skills in data analysis by applying the methods learned to measure the Gross Domestic Product (GDP) and identify business cycles, and by drafting a two-page report on this analysis.Learning objectivesUpon completing this research project, the student will be able to:- Describe the GDP and its components;- Collect data on the GDP components and use them as well as the GDP equation to measure GDP;- Graph GDP;- Describe the relationship between the GDP and each of its components.- Identifying business cycle and its primary phases.Components of the projectThis project includes two components:- Creation/construction of a graph on the key macroeconomic indicators using FRED data; and- Drafting of a two-page analysis of the components of the Gross Domestic Product.- You may also complete a Big Data cognitive course (Big Data 101) before going onto the project. This would earn you extra credit towards the project2. Fred GraphWith the attached excel file, use the data components of GDP to evaluate the equation of GDP, that is:𝑮𝑫𝑷 = 𝑪 + 𝑰 + 𝑮 + (𝑴 − 𝑿)Next, show a graphical representation of these variables and check that 𝑮𝑫𝑷 = 𝑪 + 𝑰 + 𝑮 + (𝑴−𝑿)3. Written Report on the GDPDraft a two-page report on the GDP behavior over the period 2001-01 to 2020/21 (latest date with available data). This report should include a description of the steps taken to construct the graphs, and an analysis of the business cycle over this time period. Make sure you describe the different phases of business cycle present in the GDP data, that is, describe recession period (decrease in GDP of more than 6 month), expansion (increase in GDP), peak (the highest GDP during the expansion), and trough (lowest GDP during the recession).Use the GDP equation and data on GDP components to evaluate the equation. Is the [𝑪 + 𝑰 + 𝑮 + (𝑴 − 𝑿)] for each year really equal to the GDP values for those years provided in the FRED data?Create different visualizations using each of the variables over the time period with data to show the relationship between GDP and each of its components. Which components seems to determine the behavior of the GDP? How can you identify unemployment or inflation from the GDP graph?Next, determine the proportion (share) of GDP made up of consumption ©, investment (I), government spending (G), and net exports (M-X, that is Xn). What GDP component has the largest share?What have you learned about measuring GDP from this assignment? Be sure to cite, using APA, any findings to back your argument and provide a bibliography.

Module 2 Simulation help Posted Jan 11, 2022 12:01 AM How to Play-see attached as well. • Each morning, you split 30 minutes between preparing burgers and preparing fries for later sale. • Your screen tells you how many fries and how many burgers you make per minute. • You divide your time by using the plus buttons and pressing Prepare Food. o Because you have 30 minutes in total, as you increase time preparing an item, time spent on the other decreases. Earnings Computation • You sell only one item: Combos consisting one one burger and one order of fries. • Your earnings equal the number of Combos you bring. o I.e., whichever is smaller: the number of fries you bring or the number of burgers you bring. Example o You make 2 burgers per minute you spend on burgers. o You make 1 order of fries per minute you spend on fries. o You spend 14 minutes preparing burgers and 16 minutes preparing fries. Earnings = Combos=minimum{Burgers, Fries} Earnings = minimum{14 × 2, 16 × 1} 16 = minimum{28, 16} Attachment(s): ComparativeAdvantageStudentInstructions(1).pptx (581.46 KB) ComparativeAdvantage_NoTrade_Instructions.mp4 (4.36 MB) Comparative Advantage (without Trade): Module Two External Learning Tool STOP: Please read the instructions before clicking on the simulation link. The simulation runs immediately after opening the link. Do not leave the computer while simulation is running (apprx. 5 min) to see the entire process and results. Click the link above to access the simulation. You will need to review it before completing the simulation discussion for this module. Comparative Advantage (with Trade): Module Two External Learning Tool STOP: Please read the instructions before clicking on the simulation link. The simulation runs immediately after opening the link. Do not leave the computer while simulation is running (apprx. 5 min) to see the entire process and results. Click the link above to access the simulation. You will need to review it before completing the simulation discussion for this module. 2-2 Simulation Discussion: Comparative Advantage Discussion Topic Top of Form Bottom of Form NOTE THAT A CUSTOM RUBRIC IS USED FOR THIS DISCUSSION. The United States has a comparative advantage over China on the production of specialized and capital-intensive labor. It also has a comparative advantage in the production of services, such as travel and tourism. For this discussion, first play these simulation games in the MindTap environment: Comparative Advantage (Without Trade) Comparative Advantage (With Trade) In your initial post, share your experience playing the games, and include an image of one of your simulation reports. (See Module Two Simulation Discussion Screenshot Instructions PDF.) Then address the following: Countries trade goods just like the food trucks do in the simulation. Did the food trucks benefit from specialization and trade? How can the United States benefit from specialization and trade? Provide examples from the textbook. Research and share a current news article on international trade that supports the argument economists make in favor of free trade agreements (FTAs). In what ways is the article supportive of FTAs? In your responses, comment on at least two of your peers' posts. Critique the arguments made in each peer's article by weighing the costs of FTAs against the benefits. Support your position with sources from the news or the textbook. To access your simulations, click the simulation link found in the module. To complete this assignment, review the Module Two Simulation Discussion Guidelines and Rubric.