BU204-2: Examine macmeconomic aggregate indicators, such as the GDP, inflation rate, unemployment rate, and their implications on the national economy. 1. Using the procedures described in the Unit 3 leaming activity and listed in the World Bank Research Steps document, collect the data requested below from the World Bank for the year of 2000 and for the year of 2015. a) Selecting Canada and China, download AND LIST the following data from the World Bank, in an Excel spreadsheet, for both the year ending 2000 and the year ending 2015: i) ii) iii) iv) v) vi) vii) Industry (including construction), value added (% of GDP) GDP (constant 2015 USS) GDP per capita (constant 2015 US$) Population, total Employment in agriculture (% of total employment) (modeled ILO estimate) Employment in industry (% of total employment) (modeled II.O estimate) Employment in services (% of total employment) (modeled ILO estimate) viii) Employment to population ratio, over 15 years of age total percentage. Land area (sq. km) ix) (Enter response here.) b) For each country, calculate the percentage differences between the year 2000 and the year 2015 for each set of data. 3) Imagine a simple economy where people consume only two goods, food and clothing, as shown in the table below. Further, assume that the market basket of goods used to compute the CPI consists of 100 units of food and 20 units of clothing. Yearly Price per Unit Food Clothing 2004 price per unit 2005 price per unit 58 $20 $12 $40 a. Compute the percentage changes in the price of food and the percentage change in the price of clothing between 2004 and 2005. (Enter response here.) b. Calculate the percentage change in the CPI between 2004 and 2005. (Enter response here.) c. Do you think the CPI price changes affect all consumers in the economy to the same extent? If not, how do you determine who "wins" and who "loses" in this situation? Explain why these differences would exist. (Enter response here.) (Enter response here.) c) Calculate the percentage difference between Canada and China for the year 2015 for each of the data elements. (Enter response here.) 2. In a 400-500-word essay and using at least one outside source, explain WHY you think these values in the data for question 1 differ between the two countries? How does long-run economic growth operate differently between these two countries. References: Author. (Date.) Title. Source Directions for Submitting Your Assignment Before you submit your assignment, you should save your work on your computer and use the correct filename that is specified in item 1 of the General Instructions for all assignments. When you are ready, submit to the Unit 3 Assignment Dropbox. D E F G H ~Series Code 2000 [YR2000] 2015 [YR2015] NY.GDP.MKTP.CD $744,773,415,932 $1,556,508,816,217 109% $24,271 $43,594 $219,708,437,142 $380,032,251,382 $30,685,730 $35,704,498 $23 $20 $3 $2 $74 $78 SL.EMP.TOTL.SP.NE. AG.LND.TOTL.K2 $61 $62 $8,965,590 $8,965,590 NY.GDP.MKTP.CD NY.GDP.PCAP.CD NV.IND.TOTL.CD SP.POP.TOTL SL.IND.EMPL.ZS $1,211,331,651,866 $11,061,572,618,579 $959 $8,016 $551,593,230,818 $1,262,645,000 $4,517,694,479,123 $1,379,860,000 $22 $29 $50 $28 $27 $42 $71 $68 AG.LND.TOTL.K2 $9,388,220 $9,388,211 * * * * * * * * * A 1 Countr Count B Series Name C 2 Canada CAN GDP (current US$) 3 Canada CAN GDP per capita (current US$) 4 Canada CAN Industry (including construction), value added (current US$) 5 Canada CAN Population, total 6 Canada CAN 7 Canada CAN 8 Canada CAN 9 Canada CAN Employment in industry (% of total employment) (modeled ILO estimate) Employment in agriculture (% of total employment) (modeled ILO estimate) Employment in services (% of total employment) (modeled ILO estimate) Employment to population ratio, 15+, total (%) (national estimate) NY.GDP.PCAP.CD NV.IND.TOTL.CD SP.POP.TOTL SL.IND.EMPL.ZS SL.AGR.EMPL.ZS SL.SRV.EMPL.ZS 10 Canada CAN Land area (sq. km) 11 12 China CHN GDP (current USS) 13 China CHN GDP per capita (current USS) 14 China CHN 15 China CHN 16 China CHN 17 China 18 China 19 China CHN CHN CHN 20 China CHN Industry (including construction), value added (current US$) Population, total Employment in industry (% of total employment) (modeled ILO estimate) Employment in agriculture (% of total employment) (modeled ILO estimate) Employment in services (% of total employment) (modeled ILO estimate) Employment to population ratio, 15+, total (%) (national estimate) Land area (sq. km) SL.AGR.EMPL.ZS SL.SRV.EMPL.ZS SL.EMP.TOTL.SP.NE. 21 22

BU204-2: Examine macmeconomic aggregate indicators, such as the GDP, inflation rate, unemployment rate, and their implications on the national economy. 1. Using the procedures described in the Unit 3 leaming activity and listed in the World Bank Research Steps document, collect the data requested below from the World Bank for the year of 2000 and for the year of 2015. a) Selecting Canada and China, download AND LIST the following data from the World Bank, in an Excel spreadsheet, for both the year ending 2000 and the year ending 2015: i) ii) iii) iv) v) vi) vii) Industry (including construction), value added (% of GDP) GDP (constant 2015 USS) GDP per capita (constant 2015 US$) Population, total Employment in agriculture (% of total employment) (modeled ILO estimate) Employment in industry (% of total employment) (modeled II.O estimate) Employment in services (% of total employment) (modeled ILO estimate) viii) Employment to population ratio, over 15 years of age total percentage. Land area (sq. km) ix) (Enter response here.) b) For each country, calculate the percentage differences between the year 2000 and the year 2015 for each set of data. 3) Imagine a simple economy where people consume only two goods, food and clothing, as shown in the table below. Further, assume that the market basket of goods used to compute the CPI consists of 100 units of food and 20 units of clothing. Yearly Price per Unit Food Clothing 2004 price per unit 2005 price per unit 58 $20 $12 $40 a. Compute the percentage changes in the price of food and the percentage change in the price of clothing between 2004 and 2005. (Enter response here.) b. Calculate the percentage change in the CPI between 2004 and 2005. (Enter response here.) c. Do you think the CPI price changes affect all consumers in the economy to the same extent? If not, how do you determine who "wins" and who "loses" in this situation? Explain why these differences would exist. (Enter response here.) (Enter response here.) c) Calculate the percentage difference between Canada and China for the year 2015 for each of the data elements. (Enter response here.) 2. In a 400-500-word essay and using at least one outside source, explain WHY you think these values in the data for question 1 differ between the two countries? How does long-run economic growth operate differently between these two countries. References: Author. (Date.) Title. Source Directions for Submitting Your Assignment Before you submit your assignment, you should save your work on your computer and use the correct filename that is specified in item 1 of the General Instructions for all assignments. When you are ready, submit to the Unit 3 Assignment Dropbox. D E F G H ~Series Code 2000 [YR2000] 2015 [YR2015] NY.GDP.MKTP.CD $744,773,415,932 $1,556,508,816,217 109% $24,271 $43,594 $219,708,437,142 $380,032,251,382 $30,685,730 $35,704,498 $23 $20 $3 $2 $74 $78 SL.EMP.TOTL.SP.NE. AG.LND.TOTL.K2 $61 $62 $8,965,590 $8,965,590 NY.GDP.MKTP.CD NY.GDP.PCAP.CD NV.IND.TOTL.CD SP.POP.TOTL SL.IND.EMPL.ZS $1,211,331,651,866 $11,061,572,618,579 $959 $8,016 $551,593,230,818 $1,262,645,000 $4,517,694,479,123 $1,379,860,000 $22 $29 $50 $28 $27 $42 $71 $68 AG.LND.TOTL.K2 $9,388,220 $9,388,211 * * * * * * * * * A 1 Countr Count B Series Name C 2 Canada CAN GDP (current US$) 3 Canada CAN GDP per capita (current US$) 4 Canada CAN Industry (including construction), value added (current US$) 5 Canada CAN Population, total 6 Canada CAN 7 Canada CAN 8 Canada CAN 9 Canada CAN Employment in industry (% of total employment) (modeled ILO estimate) Employment in agriculture (% of total employment) (modeled ILO estimate) Employment in services (% of total employment) (modeled ILO estimate) Employment to population ratio, 15+, total (%) (national estimate) NY.GDP.PCAP.CD NV.IND.TOTL.CD SP.POP.TOTL SL.IND.EMPL.ZS SL.AGR.EMPL.ZS SL.SRV.EMPL.ZS 10 Canada CAN Land area (sq. km) 11 12 China CHN GDP (current USS) 13 China CHN GDP per capita (current USS) 14 China CHN 15 China CHN 16 China CHN 17 China 18 China 19 China CHN CHN CHN 20 China CHN Industry (including construction), value added (current US$) Population, total Employment in industry (% of total employment) (modeled ILO estimate) Employment in agriculture (% of total employment) (modeled ILO estimate) Employment in services (% of total employment) (modeled ILO estimate) Employment to population ratio, 15+, total (%) (national estimate) Land area (sq. km) SL.AGR.EMPL.ZS SL.SRV.EMPL.ZS SL.EMP.TOTL.SP.NE. 21 22

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter19: Economic Growth In Developing Nations

Section: Chapter Questions

Problem 20AA

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