Description
Read and analyze a recent article from The Wall Street Journal, each covering a topic choice listed below. You will then write a review of the article that is at least 300 words and in current APA format
Module/Week 1 Topic Choices:
Gross Domestic Product (GDP)
Per Capita GDP
Non-Market Production
Measuring GDP in foreign countries
Impact of imports on GDP size
Intermediate Goods
Phases of the Business Cycle
Make sure to select a Wall Street Journal article (300 words or more) that addresses all of the needed information below. A short article will often not provide you with enough detail to write about. In addition, purely statistical releases of data are not wise selections either. The article must be no older than 2014. For your chosen article, do the following:
- On the top of the page, provide the article citation in current APA format.
- On the next line down, type the topic of your articles (from the list above) in all caps and bold format.
- In a double-spaced document, briefly explain the author’s purpose for writing the article. One way to understand the author’s purpose is to ask yourself why he or she wrote it. (For example, consider current and future events, politics, or anything else that may have inspired the article.)
- Summarize the article, focusing on the discussion of the topic the article addresses. Define the economic concept being addressed. Incorporate relevant economic theory that is present so that discussion of the article content is clear.
Explanation & Answer
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Attached.
Running Head: ECONOMICS
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Economics
Institutional Affiliation
Date
ECONOMICS
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Leubsdorf, B. (2018). U.S. GDP Growth Revised Up to 3% Pace in the Second Quarter. WSJ.
Retrieved 1 April 2018, from https://www.wsj.com/articles/u-s-gdp-growth-revised-upto-3-0-pace-in-the-second-quarter-1504096685
GROSS DOMESTIC PRODUCT (GDP)
The author purpose in writing this article is to show the difference in the change of
administration has had on the gross domestic product. It has been noted in the article that the
previous administration that had been in office for eight years had never attained the increase
in the GDP as what was seen in 2017. The impact of President Trump's administration as
depicted by the author has brought about a 3% increase in the GDP which had never been
attained in previous government especially following the Great Recession that had occurred
from 2007 to 2009. So the purpose of the article is to show influence President Trump's
administration has on the GDP now and in the coming years while President's Trump is still
in the office.
The gross domestic product can be defined as an indicator which will be used to
determine whether the country's economy is healthy or not. The article presents information
on the expansion of the U.S. economy which has led to the increase of the gross domestic
product. In light of the topic being discussed by the author, there has been inflation in the
production of the goods and the rendering of services all over the country leading to the
increase to the annual rate at an estimate of 3%. The author goes on to discuss the economic
growth following the Great Recession where the GDP had never had an increase of more than
2% as what was seen after Trump's administration came into office. The author also presents
various trends that will ensure that the American economy will grow as well as the GDP. The
increase in the GDP in 2017 as outlined by the author was because of the poly changes which
have been enacted by the current administration, and the economic growth will also increase
ECONOMICS
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due to the policy changes with the same percentage. Following the Great Recession, the GDP
had managed to grow by 2.2%.
Other basic economic concepts that are quickly noted in the article will be goods,
services, and demand. The author mentions that there has been inflation in the production of
goods as well as with the rendering of the services that has further led to the increase of the
GDP. The author notes that the corporate profits declined following a drop in the oil prices
which led to a decline in the demand for exported products. The relevant economic theory
which will be applicable in the article will work by Keynesian economics since an increase in
the production of goods will go hand in hand with an increase in the demand of the goods
further leading to a rise in the consumer-spending growth. According to the theory,
employing employees for the production of goods that aren't in demand will not lead to full
employment.
Tam, T. (2018). The Challenges to Germany's Economy—in 11 Charts. WSJ. Retrieved 1
April
2018,
from
https://www.wsj.com/articles/the-challenges-to-germanys-
economyin-11-charts-1506091668
PER CAPITA GROSS DOMESTIC PRODUCT
The author's purpose in writing the article is to show the improvement in Germany's
economy which has been experienced after Chancellor Angela Merkel took office. Ever s...