development of the US economy
The project required
- Microsoft Word or Adobe PDF
- Easy-to-read font of your choice (Examples: Calibri, Times New Roman, Garamond, Arial)
- Easy-to-read font size (10-12 point)
- Name, course number and section and date in the upper right-hand corner
- Individual responses for each question asked. I recommend putting the question in “bold” and then putting your response right below it.
- Answering each question individually.
- Proper use of words, grammar, sentence and paragraph structure. You should answer these as if preparing a report for a future supervisor of yours, so it’s important that you make a positive impression with proper business writing format. Each error will result in a 2 point reduction.
- Relevancy to the dilemma and questions posted. Your response should directly relate to each question posted and the dilemma presented. It’s ok to have a different or non-traditional viewpoint on the discussion topic, but your response must be relevant to the original topic and what you’ve learned in this course.
- Length. You should plan on a minimum of 250 words per question (not per ethical dilemma). Your response should be long enough to meet the other considerations, complete your thoughts, and provide solid supportive information. However, your responses shouldn’t be rambling or excessively long.
- Depth. The most important consideration for grading these will be the level of thought you put into your responses. You should demonstrate in-depth thinking about the topic, how it relates to your future career or your present situation, and how it relates to course material.
Follow all the question
Do NOT repeat instructions A) and B) in your two replies.
- A) Outline the development of the US economy by answering these questions:
– What branches of Government are responsible for managing the economy, and why?
– What is the composition of the GDP and how to compare nominal versus real values?
– How did Maynard Keynes propose to address the Great Depression? Did it differ from the Classical views? How does it compare to Monetarism?
-How does the Federal Reserve System perform its functions and what instruments of policy does it use?
-What were the business cycles and long-term trend of the economy from the 1960s to now, and the main factors behind its growth?
- B) Outline the main reasons for international trade, what gains derive from it, the conditions of the U.S. balance of payments, aspects of terms of trade, the main trade barriers and efforts to eradicate them, the arguments for protectionism and a comparison of the latter to the pros/cons of free trade; use graphs, formulas and examples to support your findings. Also address international finance, the evolution of the exchange systems, what affects currency rates and how those in turn influence prices, output and trade flows. Conclude with your own outlook on the U.S. balance of trade.