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Question : 54) Specialization and trade make a country better off because : 1241432

Economics

 

54) Specialization and trade make a country better off because with trade, the country can consume at a point

A) outside its production possibilities frontier.

B) inside its production possibilities frontier.

C) on its production possibilities frontier.

D) on its trading partner’s production possibilities frontier.

E) inside its trading partner’s production possibilities frontier.

 

55) By specializing and trading, a country is able to

A) obtain the absolute advantage in the goods it produces.

B) consume but not to produce combinations of goods that lie beyond its production possibilities frontier.

C) produce but not to consume combinations of goods that lie beyond its production possibilities frontier.

D) both produce and consume combinations of goods that lie beyond its production possibilities frontier.

E) neither produce nor consume combinations of goods that lie beyond its production possibilities frontier.

 

56) With no international trade, a country ________ consume at a point outside of its PPF; with international trade, a country ________ consume at a point outside of its PPF.

A) cannot; can

B) can; cannot

C) can; can

D) cannot; cannot

E) None of the above answers is correct because the presence or absence of international trade has nothing to do with where a country consumes in comparison to its PPF.

57) In terms of a nation’s production possibilities frontier, what impact does international trade have?

A) International trade shifts the nation’s production possibilities frontier outward.

B) International trade shifts the nation’s production possibilities frontier inward.

C) International trade allows the nation to consume at a point outside its production possibilities frontier.

D) International trade shifts the production possibilities frontier outward for the goods that are exported and inward for the goods that are imported.

E) International trade shifts the production possibilities frontier outward for the goods that are imported and inward for the goods that are exported.

 

58) The gains from trade include:

i.lower prices from competition

ii.greater output from specialization

iii.greater variety of goods and services available

A) i and iii only

B) ii and iii only

C) i and ii only

D) i, ii, and iii

E) ii only

 

59) If a nation has an absolute advantage in producing a good, then it

A) will have a comparative advantage in producing that good.

B) will have no need to trade with other nations.

C) will always specialize in that good.

D) might or might not have a comparative advantage in producing that good.

E) will not have a comparative advantage in producing that good.

60) In one hour John can produce 20 loaves of bread or 8 cakes. In one hour Phyllis can produce 30 loaves of bread or 15 cakes. Which of the following statements is true?

A) Phyllis has a comparative advantage in producing bread.

B) John has a comparative advantage in producing cakes.

C) Phyllis has an absolute advantage in both goods.

D) John has an absolute advantage in both goods.

E) Phyllis has a comparative advantage in producing both cakes and bread.

 

61) “Comparative advantage” is defined as a situation in which one person can produce

A) more of all goods than another person.

B) more of a good than another person.

C) a good for a lower dollar cost than another person.

D) a good for a lower opportunity cost than another person.

E) all goods for lower opportunity costs than another person.

 

62) Scott and Cindy both produce only pizza and tacos. In one hour, Scott can produce 20 pizzas or 40 tacos. In one hour, Cindy can produce 30 pizzas or 40 tacos. Scott’s opportunity cost of producing 1 taco is

A) 1/2 of a pizza.

B) 1 pizza.

C) 2 pizzas.

D) 20 pizzas.

E) 2 tacos.

63) Scott and Cindy both produce only pizza and tacos. In one hour, Scott can produce 20 pizzas or 40 tacos. In one hour, Cindy can produce 30 pizzas or 40 tacos. Cindy’s opportunity cost of producing 1 taco is

A) 3/4 of a pizza.

B) 1 pizza.

C) 30 pizzas.

D) 40 pizzas.

E) 1 1/3 tacos.

 

 

64) Scott and Cindy both produce only pizza and tacos. In one hour, Scott can produce 20 pizzas or 40 tacos. In one hour, Cindy can produce 30 pizzas or 40 tacos. Based on these data,

A) Cindy has a comparative advantage at producing tacos.

B) Scott has a comparative advantage at producing tacos.

C) Cindy and Scott have the same comparative advantage in producing tacos.

D) neither Cindy nor Scott has a comparative advantage in producing tacos.

E) Cindy and Scott have the same comparative advantage in producing pizzas.

 

65) In one hour John can produce 20 loaves of bread or 16 cakes. In one hour Phyllis can produce 30 loaves of bread or 15 cakes. Which of the following statements is true?

A) Phyllis has a comparative advantage in producing bread.

B) John has a comparative advantage in producing cakes.

C) Phyllis has an absolute advantage in both goods.

D) John has an absolute advantage in both goods.

E) Phyllis has a comparative advantage in producing both cakes and bread.

66) Comparative advantage is directly related to which of the following concepts?

A) productivity

B) efficiency

C) opportunity cost

D) competition

E) fairness

 

67) If workers in Mexico produce fewer goods and services per hour than workers in the United States in all areas of production, then

A) the United States will benefit from trade with Mexico but Mexico will not.

B) Mexico will benefit from trade with the United States but the United States will not.

C) neither Mexico nor the United States will benefit from trade with the other.

D) both the United States and Mexico will benefit from trade with the other.

E) it is unknown whether either country can benefit from trade with the other.

 

 

 

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July 1, 2023
    

 ECO100 – Principles of Economics Assignment 2: Final Report

Assignment 2: Final Report Due Week 10, worth 200 points This assignment is aligned to this course outcome: • Apply macroeconomic concepts to current and personal economic events and decisions. In addition to writing about macroeconomic concepts, it's equally important to be able to convey your understanding of these concepts by communicating them to others. In the workplace you might do this by writing briefs (like you did for Assignment 1), creating presentations, or writing reports for your manager or team. This Final Report assignment will be a Word document (approximately 3 pages) that builds off your previous Economic Brief and selected industry. For this assignment, you'll examine at least one of the macroeconomic indicators or policies below within the context of the industry you have previously selected. • GDP growth • Unemployment rates • Inflation rates • Interest rates • International trade policy and issues related to trade balances, trade restrictions, etc. • Government fiscal policy and issues related to taxation, government spending, and budget deficits • FED (central bank) monetary policy and issues related to the FED’s mission to stabilize the economy Macroeconomic Resources for Industry and Economy These resources are available to help you find the size and growth rate of your industry in the U.S. economy and/or relative to GDP: • Real GDP – Click on Section 1, then table 1.1.6 (click on MODIFY to change the year range and frequency). Data is from Bureau of Economic Analysis (bea.gov). • % change in Real GDP – Click on Section1, then table 1.1.1 (click on MODIFY to change the year range and frequency). Data is from Bureau of Economic Analysis (bea.gov). • GDP by Industry – 2008 to 2017 annual data (click on MODIFY to change the year range and frequency). Data is from Bureau of Economic Analysis (bea.gov). • % change in GDP by industry – 2008 to 2017 annual data (click on MODIFY to change the year range and frequency). Data is from Bureau of Economic Analysis (bea.gov). These resources are available to help you measure and track macroeconomic indicators and outcomes of macroeconomic policies: • Unemployment rates – Data is from Bureau of Labor Statistics (bls.gov). • Inflation rates as measured by the Consumer Price Index (CPI). Data is from Bureau of Labor Statistics (bls.gov). 

 Change in Real Exports and Imports – Click on Section 4, then table 4.2.1 (click on MODIFY to change the year range and frequency). Data is from Bureau of Economic Analysis (bea.gov). • Government receipts, expenditures, and savings – Click on Section 3, then table 3.1 for total government and table 3.2 for federal government. (Click on MODIFY to change the year range and frequency.) Data is from the Bureau of Economic Analysis (bea.gov). • FED Funds Interest Rates. Data is from Trading Economics (tradingeconomics.com). Preparation 1. To begin this assignment, recall the industry you selected in Assignment 1. 2. Use the industry GDP resources above to assess the size and growth rate of this industry. 3. Next, identify a newsworthy macroeconomic indicator or policy that may impact your selected industry. Use the macroeconomic resources above to find patterns and trends. 4. It will also be important to review relevant chapters from The Little Book of Economics, the OpenStax: Principles of Macroeconomics chapter readings, and your prior discussion board questions and responses. Instructions Prepare a Final Report that is approximately two to three (2-3) pages long in which you: 1. Assess your selected industry’s relative size and growth rate in the economy. 2. Identify at least one newsworthy macroeconomic indicator or policy that is important for the industry to monitor, e.g., GDP, unemployment, inflation rates, interest rates, trade policy, government taxation and spending decisions, and/or FED decisions. 3. Explain why this macroeconomic indicator or policy is important and how it may impact your selected industry. 4. Describe a recent trend in the macroeconomic indicator or policy. Include a graph, chart, or table that illustrates the observed trend. 5. Conclude with a forecast for the industry based on whether the trend identified in part 4 is expected to continue. Provide support for your conclusion. 6. This course requires use of Strayer Writing Standards (SWS). The format is different compared to other Strayer University courses. Please take a moment to review the SWS documentation for details. (Note: You’ll be prompted to enter your Blackboard login credentials to view these standards.) o Your brief should include a cover page. o Your brief should be two to three (2-3) pages in length (not including the cover page), double-spaced, 12-point font. o Your report should include a minimum of two (2) references/citations in the text. ECO100 – Principles of Economics © 2018 Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written permission of Strayer University. Page 3 of 4 Assignment 2 Rubric Grading for this assignment will be based on the quality of your responses in addressing each of the points below, using the following rubric: Points: 200 Assignment 2: Final Report Criteria Exemplary 90–100% A Proficient 80–89% B Fair 70–79% C Meets Minimum Expectations 60–69% D Unacceptable Below 60% F 1. Assesses the size and/or growth rate of the industry relative to the national economy. Weight: 10% The student correctly and thoroughly assesses both the relative size and relative growth rate of the industry in the national economy. The student correctly assesses the size and/or growth rate of the industry in the national economy. Excludes some minor details. The student partially assesses the size and/or growth rate of the industry in the national economy. Excludes major details. The student attempted to assess the size and/or growth rate of the industry in the national economy. The student did not assess the size of the industry or its growth rate in the national economy. 2. Identifies at least one newsworthy macroeconomic indicator or policy that the industry should monitor. Weight: 20% The student correctly identifies one or more macroeconomic indicators or policies that the industry should monitor and provides strong supporting details. The student correctly identifies a macroeconomic indicator or policy that the industry should monitor and provides strong supporting details. The student correctly identifies a macroeconomic indicator or policy that the industry should monitor but does not provide sufficient supporting details. The student attempted to identify a macroeconomic indicator or policy that the industry should monitor. No sufficient supporting details were provided. The student did not identify a macroeconomic indicator or policy that the industry should monitor. 3. Explains why the macroeconomic indicator or policy selected in part 2 is important and how it may impact the industry. Weight: 30% The student correctly and thoroughly explains why the macroeconomic indicator and/or policy in part 2 is important and how it may impact the industry. The student correctly explains why the macroeconomic indicator and/or policy in part 2 is important and how it may impact the industry. Excludes minor details. The student partially explains why the macroeconomic indicator and/or policy in part 2 is important and how it may impact the industry. Excludes major details. The student attempted to explain why the macroeconomic indicator and/or policy in part 2 is important and/or how it may impact the industry. The student did not explain why the macroeconomic  indicator and/or policy in part 2 is important or how it may impact the industry. 4. Describes a recent trend in the macroeconomic  indicator or policy in part 2. Includes a graph, table, or chart that illustrates the observed trend. Weight: 20% The student correctly and thoroughly describes a recent trend in the macroeconomic  indicator and/or policy in part 2. Includes a graph, table, or chart that illustrates the observed trend. The student correctly describes a recent trend in the macroeconomic  indicator and/or policy in part 2. Includes a graph, table, or chart that illustrates the observed trend. The student partially describes a recent trend in the macroeconomic  indicator and/or policy in part 2. Includes a graph, table, or chart that may or may not illustrate the observed trend. The student attempted to describe a recent trend in the macroeconomic indicator and/or policy in part 2. No graph, table, or chart that illustrates the trend was provided. The student did not describe a recent trend in the macroeconomic  indicator and/or policy in part 2. No graph, table, or chart that illustrates the trend was provided. ECO100 – Principles of Economics © 2018 Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written permission of Strayer University. Page 4 of 4 Criteria Exemplary 90–100% A Proficient 80–89% B Fair 70–79% C Meets Minimum Expectations 60–69% D Unacceptable Below 60% F 5. Concludes with a forecast for the industry based on whether the observed trend is expected to continue. Provides strong support for the forecast. Weight: 10% The student concludes with a correct and thorough forecast for the industry based on whether the observed trend is expected to continue. Provides strong support for the forecast. The student concludes with a correct forecast for the industry based on whether the observed trend is expected to continue. Provides reasonable support for the forecast. The student concludes with a partially correct forecast for the industry based on whether the observed trend is expected to continue. May or may not have provided reasonable support for the forecast. The student concludes with an attempted forecast for the industry which may or may not have been supported. The student did not conclude with a forecast for the industry. 6. Uses (SWS) Strayer Writing Standards to write professionally and cite sources. Meets two-page minimum. Meets two minimum reference/citation requirement. Weight: 10% Followed all writing standards. Meets page minimum. Meets minimum reference/citation requirement. Followed most writing standards. Meets page minimum. Meets minimum reference/citation requirement. Followed some writing standards. May not meet page minimum. May not meet minimum reference/citation requirement. Followed few writing standards. May not meet page minimum. May not meet minimum reference/citation requirement. Followed few to no writing standards. Did not meet page minimum. Did not meet minimum reference/citation requirement. 

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July 1, 2023
    

 ECO100 – Principles of Economics Assignment 2: Final Report

Assignment 2: Final Report Due Week 10, worth 200 points This assignment is aligned to this course outcome: • Apply macroeconomic concepts to current and personal economic events and decisions. In addition to writing about macroeconomic concepts, it's equally important to be able to convey your understanding of these concepts by communicating them to others. In the workplace you might do this by writing briefs (like you did for Assignment 1), creating presentations, or writing reports for your manager or team. This Final Report assignment will be a Word document (approximately 3 pages) that builds off your previous Economic Brief and selected industry. For this assignment, you'll examine at least one of the macroeconomic indicators or policies below within the context of the industry you have previously selected. • GDP growth • Unemployment rates • Inflation rates • Interest rates • International trade policy and issues related to trade balances, trade restrictions, etc. • Government fiscal policy and issues related to taxation, government spending, and budget deficits • FED (central bank) monetary policy and issues related to the FED’s mission to stabilize the economy Macroeconomic Resources for Industry and Economy These resources are available to help you find the size and growth rate of your industry in the U.S. economy and/or relative to GDP: • Real GDP – Click on Section 1, then table 1.1.6 (click on MODIFY to change the year range and frequency). Data is from Bureau of Economic Analysis (bea.gov). • % change in Real GDP – Click on Section1, then table 1.1.1 (click on MODIFY to change the year range and frequency). Data is from Bureau of Economic Analysis (bea.gov). • GDP by Industry – 2008 to 2017 annual data (click on MODIFY to change the year range and frequency). Data is from Bureau of Economic Analysis (bea.gov). • % change in GDP by industry – 2008 to 2017 annual data (click on MODIFY to change the year range and frequency). Data is from Bureau of Economic Analysis (bea.gov). These resources are available to help you measure and track macroeconomic indicators and outcomes of macroeconomic policies: • Unemployment rates – Data is from Bureau of Labor Statistics (bls.gov). • Inflation rates as measured by the Consumer Price Index (CPI). Data is from Bureau of Labor Statistics (bls.gov). 

 Change in Real Exports and Imports – Click on Section 4, then table 4.2.1 (click on MODIFY to change the year range and frequency). Data is from Bureau of Economic Analysis (bea.gov). • Government receipts, expenditures, and savings – Click on Section 3, then table 3.1 for total government and table 3.2 for federal government. (Click on MODIFY to change the year range and frequency.) Data is from the Bureau of Economic Analysis (bea.gov). • FED Funds Interest Rates. Data is from Trading Economics (tradingeconomics.com). Preparation 1. To begin this assignment, recall the industry you selected in Assignment 1. 2. Use the industry GDP resources above to assess the size and growth rate of this industry. 3. Next, identify a newsworthy macroeconomic indicator or policy that may impact your selected industry. Use the macroeconomic resources above to find patterns and trends. 4. It will also be important to review relevant chapters from The Little Book of Economics, the OpenStax: Principles of Macroeconomics chapter readings, and your prior discussion board questions and responses. Instructions Prepare a Final Report that is approximately two to three (2-3) pages long in which you: 1. Assess your selected industry’s relative size and growth rate in the economy. 2. Identify at least one newsworthy macroeconomic indicator or policy that is important for the industry to monitor, e.g., GDP, unemployment, inflation rates, interest rates, trade policy, government taxation and spending decisions, and/or FED decisions. 3. Explain why this macroeconomic indicator or policy is important and how it may impact your selected industry. 4. Describe a recent trend in the macroeconomic indicator or policy. Include a graph, chart, or table that illustrates the observed trend. 5. Conclude with a forecast for the industry based on whether the trend identified in part 4 is expected to continue. Provide support for your conclusion. 6. This course requires use of Strayer Writing Standards (SWS). The format is different compared to other Strayer University courses. Please take a moment to review the SWS documentation for details. (Note: You’ll be prompted to enter your Blackboard login credentials to view these standards.) o Your brief should include a cover page. o Your brief should be two to three (2-3) pages in length (not including the cover page), double-spaced, 12-point font. o Your report should include a minimum of two (2) references/citations in the text. ECO100 – Principles of Economics © 2018 Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written permission of Strayer University. Page 3 of 4 Assignment 2 Rubric Grading for this assignment will be based on the quality of your responses in addressing each of the points below, using the following rubric: Points: 200 Assignment 2: Final Report Criteria Exemplary 90–100% A Proficient 80–89% B Fair 70–79% C Meets Minimum Expectations 60–69% D Unacceptable Below 60% F 1. Assesses the size and/or growth rate of the industry relative to the national economy. Weight: 10% The student correctly and thoroughly assesses both the relative size and relative growth rate of the industry in the national economy. The student correctly assesses the size and/or growth rate of the industry in the national economy. Excludes some minor details. The student partially assesses the size and/or growth rate of the industry in the national economy. Excludes major details. The student attempted to assess the size and/or growth rate of the industry in the national economy. The student did not assess the size of the industry or its growth rate in the national economy. 2. Identifies at least one newsworthy macroeconomic indicator or policy that the industry should monitor. Weight: 20% The student correctly identifies one or more macroeconomic indicators or policies that the industry should monitor and provides strong supporting details. The student correctly identifies a macroeconomic indicator or policy that the industry should monitor and provides strong supporting details. The student correctly identifies a macroeconomic indicator or policy that the industry should monitor but does not provide sufficient supporting details. The student attempted to identify a macroeconomic indicator or policy that the industry should monitor. No sufficient supporting details were provided. The student did not identify a macroeconomic indicator or policy that the industry should monitor. 3. Explains why the macroeconomic indicator or policy selected in part 2 is important and how it may impact the industry. Weight: 30% The student correctly and thoroughly explains why the macroeconomic indicator and/or policy in part 2 is important and how it may impact the industry. The student correctly explains why the macroeconomic indicator and/or policy in part 2 is important and how it may impact the industry. Excludes minor details. The student partially explains why the macroeconomic indicator and/or policy in part 2 is important and how it may impact the industry. Excludes major details. The student attempted to explain why the macroeconomic indicator and/or policy in part 2 is important and/or how it may impact the industry. The student did not explain why the macroeconomic  indicator and/or policy in part 2 is important or how it may impact the industry. 4. Describes a recent trend in the macroeconomic  indicator or policy in part 2. Includes a graph, table, or chart that illustrates the observed trend. Weight: 20% The student correctly and thoroughly describes a recent trend in the macroeconomic  indicator and/or policy in part 2. Includes a graph, table, or chart that illustrates the observed trend. The student correctly describes a recent trend in the macroeconomic  indicator and/or policy in part 2. Includes a graph, table, or chart that illustrates the observed trend. The student partially describes a recent trend in the macroeconomic  indicator and/or policy in part 2. Includes a graph, table, or chart that may or may not illustrate the observed trend. The student attempted to describe a recent trend in the macroeconomic indicator and/or policy in part 2. No graph, table, or chart that illustrates the trend was provided. The student did not describe a recent trend in the macroeconomic  indicator and/or policy in part 2. No graph, table, or chart that illustrates the trend was provided. ECO100 – Principles of Economics © 2018 Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written permission of Strayer University. Page 4 of 4 Criteria Exemplary 90–100% A Proficient 80–89% B Fair 70–79% C Meets Minimum Expectations 60–69% D Unacceptable Below 60% F 5. Concludes with a forecast for the industry based on whether the observed trend is expected to continue. Provides strong support for the forecast. Weight: 10% The student concludes with a correct and thorough forecast for the industry based on whether the observed trend is expected to continue. Provides strong support for the forecast. The student concludes with a correct forecast for the industry based on whether the observed trend is expected to continue. Provides reasonable support for the forecast. The student concludes with a partially correct forecast for the industry based on whether the observed trend is expected to continue. May or may not have provided reasonable support for the forecast. The student concludes with an attempted forecast for the industry which may or may not have been supported. The student did not conclude with a forecast for the industry. 6. Uses (SWS) Strayer Writing Standards to write professionally and cite sources. Meets two-page minimum. Meets two minimum reference/citation requirement. Weight: 10% Followed all writing standards. Meets page minimum. Meets minimum reference/citation requirement. Followed most writing standards. Meets page minimum. Meets minimum reference/citation requirement. Followed some writing standards. May not meet page minimum. May not meet minimum reference/citation requirement. Followed few writing standards. May not meet page minimum. May not meet minimum reference/citation requirement. Followed few to no writing standards. Did not meet page minimum. Did not meet minimum reference/citation requirement. 

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July 1, 2023
    

 ECO100 – Principles of Economics Assignment 2: Final Report

Assignment 2: Final Report Due Week 10, worth 200 points This assignment is aligned to this course outcome: • Apply macroeconomic concepts to current and personal economic events and decisions. In addition to writing about macroeconomic concepts, it's equally important to be able to convey your understanding of these concepts by communicating them to others. In the workplace you might do this by writing briefs (like you did for Assignment 1), creating presentations, or writing reports for your manager or team. This Final Report assignment will be a Word document (approximately 3 pages) that builds off your previous Economic Brief and selected industry. For this assignment, you'll examine at least one of the macroeconomic indicators or policies below within the context of the industry you have previously selected. • GDP growth • Unemployment rates • Inflation rates • Interest rates • International trade policy and issues related to trade balances, trade restrictions, etc. • Government fiscal policy and issues related to taxation, government spending, and budget deficits • FED (central bank) monetary policy and issues related to the FED’s mission to stabilize the economy Macroeconomic Resources for Industry and Economy These resources are available to help you find the size and growth rate of your industry in the U.S. economy and/or relative to GDP: • Real GDP – Click on Section 1, then table 1.1.6 (click on MODIFY to change the year range and frequency). Data is from Bureau of Economic Analysis (bea.gov). • % change in Real GDP – Click on Section1, then table 1.1.1 (click on MODIFY to change the year range and frequency). Data is from Bureau of Economic Analysis (bea.gov). • GDP by Industry – 2008 to 2017 annual data (click on MODIFY to change the year range and frequency). Data is from Bureau of Economic Analysis (bea.gov). • % change in GDP by industry – 2008 to 2017 annual data (click on MODIFY to change the year range and frequency). Data is from Bureau of Economic Analysis (bea.gov). These resources are available to help you measure and track macroeconomic indicators and outcomes of macroeconomic policies: • Unemployment rates – Data is from Bureau of Labor Statistics (bls.gov). • Inflation rates as measured by the Consumer Price Index (CPI). Data is from Bureau of Labor Statistics (bls.gov). 

 Change in Real Exports and Imports – Click on Section 4, then table 4.2.1 (click on MODIFY to change the year range and frequency). Data is from Bureau of Economic Analysis (bea.gov). • Government receipts, expenditures, and savings – Click on Section 3, then table 3.1 for total government and table 3.2 for federal government. (Click on MODIFY to change the year range and frequency.) Data is from the Bureau of Economic Analysis (bea.gov). • FED Funds Interest Rates. Data is from Trading Economics (tradingeconomics.com). Preparation 1. To begin this assignment, recall the industry you selected in Assignment 1. 2. Use the industry GDP resources above to assess the size and growth rate of this industry. 3. Next, identify a newsworthy macroeconomic indicator or policy that may impact your selected industry. Use the macroeconomic resources above to find patterns and trends. 4. It will also be important to review relevant chapters from The Little Book of Economics, the OpenStax: Principles of Macroeconomics chapter readings, and your prior discussion board questions and responses. Instructions Prepare a Final Report that is approximately two to three (2-3) pages long in which you: 1. Assess your selected industry’s relative size and growth rate in the economy. 2. Identify at least one newsworthy macroeconomic indicator or policy that is important for the industry to monitor, e.g., GDP, unemployment, inflation rates, interest rates, trade policy, government taxation and spending decisions, and/or FED decisions. 3. Explain why this macroeconomic indicator or policy is important and how it may impact your selected industry. 4. Describe a recent trend in the macroeconomic indicator or policy. Include a graph, chart, or table that illustrates the observed trend. 5. Conclude with a forecast for the industry based on whether the trend identified in part 4 is expected to continue. Provide support for your conclusion. 6. This course requires use of Strayer Writing Standards (SWS). The format is different compared to other Strayer University courses. Please take a moment to review the SWS documentation for details. (Note: You’ll be prompted to enter your Blackboard login credentials to view these standards.) o Your brief should include a cover page. o Your brief should be two to three (2-3) pages in length (not including the cover page), double-spaced, 12-point font. o Your report should include a minimum of two (2) references/citations in the text. ECO100 – Principles of Economics © 2018 Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written permission of Strayer University. Page 3 of 4 Assignment 2 Rubric Grading for this assignment will be based on the quality of your responses in addressing each of the points below, using the following rubric: Points: 200 Assignment 2: Final Report Criteria Exemplary 90–100% A Proficient 80–89% B Fair 70–79% C Meets Minimum Expectations 60–69% D Unacceptable Below 60% F 1. Assesses the size and/or growth rate of the industry relative to the national economy. Weight: 10% The student correctly and thoroughly assesses both the relative size and relative growth rate of the industry in the national economy. The student correctly assesses the size and/or growth rate of the industry in the national economy. Excludes some minor details. The student partially assesses the size and/or growth rate of the industry in the national economy. Excludes major details. The student attempted to assess the size and/or growth rate of the industry in the national economy. The student did not assess the size of the industry or its growth rate in the national economy. 2. Identifies at least one newsworthy macroeconomic indicator or policy that the industry should monitor. Weight: 20% The student correctly identifies one or more macroeconomic indicators or policies that the industry should monitor and provides strong supporting details. The student correctly identifies a macroeconomic indicator or policy that the industry should monitor and provides strong supporting details. The student correctly identifies a macroeconomic indicator or policy that the industry should monitor but does not provide sufficient supporting details. The student attempted to identify a macroeconomic indicator or policy that the industry should monitor. No sufficient supporting details were provided. The student did not identify a macroeconomic indicator or policy that the industry should monitor. 3. Explains why the macroeconomic indicator or policy selected in part 2 is important and how it may impact the industry. Weight: 30% The student correctly and thoroughly explains why the macroeconomic indicator and/or policy in part 2 is important and how it may impact the industry. The student correctly explains why the macroeconomic indicator and/or policy in part 2 is important and how it may impact the industry. Excludes minor details. The student partially explains why the macroeconomic indicator and/or policy in part 2 is important and how it may impact the industry. Excludes major details. The student attempted to explain why the macroeconomic indicator and/or policy in part 2 is important and/or how it may impact the industry. The student did not explain why the macroeconomic  indicator and/or policy in part 2 is important or how it may impact the industry. 4. Describes a recent trend in the macroeconomic  indicator or policy in part 2. Includes a graph, table, or chart that illustrates the observed trend. Weight: 20% The student correctly and thoroughly describes a recent trend in the macroeconomic  indicator and/or policy in part 2. Includes a graph, table, or chart that illustrates the observed trend. The student correctly describes a recent trend in the macroeconomic  indicator and/or policy in part 2. Includes a graph, table, or chart that illustrates the observed trend. The student partially describes a recent trend in the macroeconomic  indicator and/or policy in part 2. Includes a graph, table, or chart that may or may not illustrate the observed trend. The student attempted to describe a recent trend in the macroeconomic indicator and/or policy in part 2. No graph, table, or chart that illustrates the trend was provided. The student did not describe a recent trend in the macroeconomic  indicator and/or policy in part 2. No graph, table, or chart that illustrates the trend was provided. ECO100 – Principles of Economics © 2018 Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written permission of Strayer University. Page 4 of 4 Criteria Exemplary 90–100% A Proficient 80–89% B Fair 70–79% C Meets Minimum Expectations 60–69% D Unacceptable Below 60% F 5. Concludes with a forecast for the industry based on whether the observed trend is expected to continue. Provides strong support for the forecast. Weight: 10% The student concludes with a correct and thorough forecast for the industry based on whether the observed trend is expected to continue. Provides strong support for the forecast. The student concludes with a correct forecast for the industry based on whether the observed trend is expected to continue. Provides reasonable support for the forecast. The student concludes with a partially correct forecast for the industry based on whether the observed trend is expected to continue. May or may not have provided reasonable support for the forecast. The student concludes with an attempted forecast for the industry which may or may not have been supported. The student did not conclude with a forecast for the industry. 6. Uses (SWS) Strayer Writing Standards to write professionally and cite sources. Meets two-page minimum. Meets two minimum reference/citation requirement. Weight: 10% Followed all writing standards. Meets page minimum. Meets minimum reference/citation requirement. Followed most writing standards. Meets page minimum. Meets minimum reference/citation requirement. Followed some writing standards. May not meet page minimum. May not meet minimum reference/citation requirement. Followed few writing standards. May not meet page minimum. May not meet minimum reference/citation requirement. Followed few to no writing standards. Did not meet page minimum. Did not meet minimum reference/citation requirement. 

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