Week 8 AssignmentWeek 8: Personal Assignment
There are Internet questions with this assignment at the end.ProblemsProblem 1In what specific ways (if any) does a college education increase a workers productivity? Take some special care with this problem.Problem 2In what way is Per Capita GDP a better measure of economic well being than GDP? How does this relate to economic problems in the undeveloped world?Problem 3Is limitless growth possible? Justify your answer thoroughly.Problem 4If GDP is increasing by 3% per year how long will it take GDP to double?Problem 5Given the same conditions in Problem 4, how long will it take Per Capita GDP to double if the population grows at 2%?Internet QuestionsQuestion 1Visit: https://www.heritage.org/index/Default.aspx
Visit the Heritage Foundation website page for the Index of Economic Freedom. How does economic freedom in the U.S. compare to countries in South America and in Europe? How would you expect future economic growth in the U.S. to compare to those nations? Explain.Question 2Visit: https://www.bea.gov/national/xls/gdpchg.xls
This site is part of the Bureau of Economic Analysis website. Look at the inflation adjusted data and identify the periods of negative real economic growth. What might have caused each of these periods of economic decline? You may have to do a little history study. Be sure to relate your response to the economic theory offered in class.