The Distinction Between Nominal GDP And Real GDP

The Distinction Between Nominal GDP And Real GDP

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The Distinction Between Nominal GDP And Real GDP

Macroeconomic Questions

1. Define any 10 terms. Give examples were pertinent.

Macro Economics

Micro-economics

Real capital

GDP

Deficit

Debt

Consumer Price Index

Producer Price Index

Consumer spending

Investment

Inflation

Opportunity cost

Fiscal

2. Essay Questions. Please answer all parts of each question. Choose either ONE:

What is the business cycle? Demonstrate and explain?

What is the importance of GDP?

What is the distinction between nominal GDP and real GDP?

From a macro-economic perspective, how do we measure economic growth? Explain, and give examples.

How important do you think is the measurement of macro-economic growth?

What is the GDP price deflator?

OR

What is supply? What is demand?

Develop a model of a market, utilizing supply and demand. What are the dominant variables or parameters?

What is a shortage? What is a surplus? DEMONSTRATE (use model)

Via the model, explain the dynamic changes that can happen in a market. Give examples.

Relate the Micro economic model of supply and demand to the Macro-economic modal of Aggregate Demand and Aggregate Supply.

3. Essay Questions. Please answer all parts of each question.

What is Aggregate Demand?

Develop a model showing the importance and effects of Aggregate Demand on the overall economy.

What is Fiscal Policy?

What are the goals of Fiscal Policy?

What are the tools of Fiscal Policy?

Explain the how expansionary Fiscal Policy would be implemented.

What is the presumed result of the use of Fiscal Policy?

What are the criticisms regarding the use of Fiscal Policy?

RUBRIC
Excellent Quality 95-100%	Introduction 45-41 points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.		Literature Support 91-84  points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.			Methodology 58-53 points Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met.
Average Score 50-85%	40-38 points More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided.		83-76  points Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration.			52-49  points Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met.
Poor Quality 0-45%	37-1 points The background and/or significance are missing. No search history information is provided.		75-1 points Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration.			48-1 points There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met
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