A) Choose one (1) concept from the list of “Key Concepts,” and:

Key Concepts:

autarky
imports
exports
absolute advantage
comparative advantage
terms of trade
tariff
quota
infant industry
dumping

1. Illustrate (in words) the concept by using it in an analogy or a metaphor. Your response must contain at least 2 elements;

    The analogy or metaphor
    A brief explanation of why you see a parallel between the two things you are comparing

2. Use the concept in a contextualized and specific question. In other words, you are being asked to compose a question using the concept. To provide context, the question may be preceded or followed by a brief statement, but your response (meaning your concept question and statement) must have at least 5 elements;

It must contain a question
The question must explicitly use the concept
It must be a question that inquires about the relevance or importance of the concept
It must ask about an specific situation from the real world
It must use data or information (numerical figures, dates, names, locations etc.) from one or more the following sources;
Textbook Section Titled “Issue”
Textbook Section Titled “By the Numbers”
Textbook Section Titled “Around the World”
News Article from http://www.economist.com/
News Article from https://www.bloomberg.com/

B) In your own words, answer the following question. What is the difference between an infant industry and a key industry? Why do producers in both industries desire protection against foreign imports?

C) In your own words, answer the following question. Describe the difference between fixed and flexible exchange rates.

A) Choose one (1) concept from the Chapter Section Titled “Key Concepts,” and:

Key Concepts:
subprime mortgage
collateralized debt obligation
leverage
credit default swap
Phillips curve
inflationary expectations
stagflation
adaptive expectations
rational expectations
efficiency wage theory
monetized debt
automation
jobless recovery

1. Illustrate (in words) the concept by using it in an analogy or a metaphor. Your response must contain at least 2 elements;

    The analogy or metaphor
    A brief explanation of why you see a parallel between the two things you are comparing

2. Use the concept in a contextualized and specific question. In other words, you are being asked to compose a question using the concept. To provide context, the question may be preceded or followed by a brief statement, but your response (meaning your concept question and statement) must have at least 5 elements;

It must contain a question
The question must explicitly use the concept
It must be a question that inquires about the relevance or importance of the concept
It must ask about an specific situation from the real world
It must use data or information (numerical figures, dates, names, locations etc.) from one or more the following sources;
Textbook Section Titled “Issue”
Textbook Section Titled “By the Numbers”
Textbook Section Titled “Around the World”
News Article from http://www.economist.com/
News Article from https://www.bloomberg.com/

B) In your own words, explain why inflation accelerates if policymakers use monetary policy and fiscal policy to keep unemployment below the natural rate.

Summary:
Locate an article written within the past year from one of the following sources (Harvard Business Review, Forbes, The Financial Times, The Economist, Bloomberg Businessweek, or the World Street Journal) that discusses an aspect of the applied macroeconomic theory being covered throughout the specific week (e.g., Week 3 -> Macroeconomic Perspectives (GDP), Week 5 -> Aggregate Demand/Aggregate Supply/Aggregate Equilibrium, etc.).  Note, please utilize the GMC Library Services to supplement your article search process at http://gmcga.libguides.com/az.php?a=all.

For this Week 5 Journal Assessment, your applied theory concepts that can be used in the article search include the following below.

Aggregate Demand
Aggregate Supply
Aggregate Equilibrium
Keynesian Theory
Consumer Spending
Tax Reform/Policy
The Journal Assessment will include a detailed summary of the article, your reaction to the article, your answers to the below questions, and a complete citation of the source (or sources if you choose to use additional sources to back up your point of view with factual evidence).

Describe the applied macroeconomic theory the article refers to.
What is the author’s main point?
Who is affected by the situation described in the article, and how?
How is the information in the article relevant to you and the concepts being covered in this course?
Do you agree with the author’s opinion or with the actions described in the article? Why or why not?
Your Journal Assessment is to be a minimum of 1 complete page in length.  Going over the minimum page length requirement is acceptable; however, I am not looking for a 3+ page article summary.

Be as thorough as possible when writing your Journal Assessment, and remember, this is an academic assignment, so no text-talk, no conversational tone, and ABOVE ALL OTHER THINGS don’t plagiarize!!  Lastly, spell-check and proofread your work!  Failure to follow these steps will negatively impact your grade.

For this course, you will submit the graded activity using Turnitin. An Originality Report will become available within a few minutes after your first submission. Inside the Originality Report will be a Similarity Index. The Similarity Index shows a percentage of the material in your paper which matches other sources found by Turnitin. You will be expected to have a Similarity Index of less than 20%. If your Similarity Index is greater than 20% you will need to review your Originality Report to be sure that you have paraphrased your work appropriately, and cited your sources correctly.

The Originality Report will help you to avoid plagiarism and improve the quality and content of your essay. It is strongly suggested that you keep direct quotations to a minimum, and never copy and paste text without proper citations. You have until the activity due date to resubmit your work, however, there will be a 24-hour delay before the Originality Report becomes available. It is your responsibility to submit your activity on time, with a Similarity Index of less than 20%.

General APA Formatting Guidelines:

The Journal Assessment should have an APA title page and an APA reference page.  An APA abstract page is NOT required!

Font Type: Times New Roman
Font Size: 12 point
Margins: 1 inch on all sides
Spacing: Double-spacing
Alignment: Left
Paragraph Indentation: Use the Tab key to indent all paragraphs one half-inch from the left margin

Population (Country: Papua New Guinea)
A little bit of history about the country/regions population that explain the current population
makeup in terms of for example racial and ethnic groups.
Use World Bank data (http://data.worldbank.org/country) to describe the current trends in the
country/regions population (total, rural vs. urban, age and gender distribution using pyramids, etc.).
Describe the factors behind the population trends (births, deaths, migrations).
Describe the factors behind birth rates (fertility), death rates (diseases, nutrition, etc.), and
migrations (economics, conflicts, etc.). Besides data from the World Bank, various UN organizations maintain data on issues of their responsibility. For example, the World Health Organization has data on diseases and health.
Population projections, using data from the UN economic and population division: (https://www.un.org/en/development/desa/population/theme/trends/index.asp)

Cite the reference, please.

This part just talked about the economic development related to population

Population
A little bit of history about the country/regions population that explain the current population
makeup in terms of for example racial and ethnic groups.
Use World Bank data (http://data.worldbank.org/country) to describe the current trends in the
country/regions population (total, rural vs. urban, age and gender distribution using pyramids, etc.).
Describe the factors behind the population trends (births, deaths, migrations).
Describe the factors behind birth rates (fertility), death rates (diseases, nutrition, etc.), and
migrations (economics, conflicts, etc.). Besides data from the World Bank, various UN organizations maintain data on issues of their responsibility. For example, the World Health Organization has data on diseases and health.
Population projections, using data from the UN Economic and population division: (https://www.un.org/en/development/desa/population/theme/trends/index.asp)

You can use tables, graphs in the paper, but the number of pages excludes tables, graph, and references.

You need to use the resources which I uploaded, and you can need to add more if you need.

The multiple-choice exam will be administered on the course’s ACC Blackboard site. Pools of multiple-choice questions have been constructed around each question below. There are from 10 to 40 questions in each pool. The exam on Blackboard will randomly select 2 or 3 questions from each pool for each topic covered on an exam. The multiple-choice exam is an open book, open note exam which will be taken on-line outside of class time.

Two of the following questions will be randomly drawn on the day of the exam; for the exam, you will have to answer those two questions PLUS and additional problem or question more or less based on the Aplia assignments or created by the instructor and very closely related to the topics covered in lecture. The notes mentioned above must be on your cleared desk with your Blue Book before the questions are drawn.

Students will have 80 minutes to answer the three questions as fully and with the greatest detail as they are able to.