The Data Exercise must be posted to the LEO Student Assignments as a Attachments are limited to a maximum two files in doc, docx., xls. xlsx., or rtf. formats. OTHER FORMATS ARE NOT ACCEPTABLE, will not be reviewed or graded.
Please note that hand-written and scanned works, pdf. files, jpg. files, as well as files posted in google drive, will not be accepted or graded.
The paper should be written in APA style Research Paper format.
Please note that Use of APA Citation Methodology is required for all parts of the assignment
Written projects must be:
Data exercise #1 Assignment
Consists of four parts
Part 1: Expenditures Approach to Calculating GDP (weight 25% of the assignment grade)
Complete the following exercise
Visit the Bureau of Economic Analysis website at www.bea.gov. From the drop-down menu under “Data”, click on “by Economics Account”. Then click on “National”, “Gross Domestic Product, and “Full Release and Tables”. Use table 3 (Gross Domestic Product: Level and Change from Preceding Period). The left columns are nominal GDP (and its components) and the right half represents real GDP (chained 2012 dollars)
a) Create the table that contains the following information for the last quarter. You need this information from both parts of the table 3- (nominal GDP (and its components) from left columns and real GDP (chained 2012 dollars) from the right part of the table 3). Omit the intermediate lines found in Table 3 on the web site.
Gross domestic product
Personal consumption expenditures
Gross private domestic investment
Net exports of goods and services
Government consumption expenditures and gross investment
Using Nominal GDP:
[Personal consumption expenditures / Nominal GDP]*100%
[Gross private domestic investment / Nominal GDP]*100%
[Net exports of goods and services / Nominal GDP]*100%
[Government consumption expenditures and gross investment/ Nominal GDP]*100%
And using Real GDP:
[Personal consumption expenditures / Real GDP]*100%
[Gross private domestic investment / Real]*100%
[Net exports of goods and services / Real GDP]*100%
[Government consumption expenditures and gross investment/ Real GDP]*100%
Present the information that you received in 1 (a) and 1 (b) as a table(s) in your project.
In this report consider, but do not be limited to the following:
Part 2: Income Approach to Calculating GDP (weight 25% of the assignment grade)
Complete the following exercise:
Go to http://www.bea.gov/
Visit the Bureau of Economic Analysis website at www.bea.gov. From the drop-down menu under “Data”, click on “by Economics Account”. Then click on “National”, “Gross Domestic Product, and “Full Release and Tables”. Use table 7 (Relation of Gross Domestic Product, Gross National Product, and National Income) and table 8 (Personal Income and its Disposition).
Gross domestic product
Gross national product
Net national product
National income
Personal income
2. Write a report in your own words (1 page, double-spaced), which contains the analysis of the results you received. In this report consider, but do not be limited to the following:
Part 3: GDP in Different Countries (weight 25% of the assignment grade)
Complete the following exercise:
Go to World Development Indicators database:
Country | GDP | Population | Per Capita GDP |
1 | 2 | 3 | 4 = 2/3 |
Write a short report in your own words (1 page, double-spaced), which contains the analysis of the results you have gotten. In this report consider, but do not be limited to the following:
Part 4: Index of Economic Freedom (weight 25% of the assignment grade)
Log onto the Heritage Foundation’s website at https://www.heritage.org/index/
“Today, we live in the most prosperous time in human history. Poverty, sicknesses, and ignorance are receding throughout the world, due in large part to the advance of economic freedom. In 2018, the principles of economic freedom that have fueled this monumental progress are once again measured in the Index of Economic Freedom, an annual guide published by The Heritage Foundation, Washington’s No. 1 think tank.
For over twenty years the Index has delivered thoughtful analysis in a clear, friendly, and straight-forward format. With new resources for users and a website tailored for research and education, the Index of Economic Freedom is poised to help readers track over two decades of the advancement in economic freedom, prosperity, and opportunity and promote these ideas in their homes, schools, and communities.
The Index covers 12 freedoms – from property rights to financial freedom – in 186 countries.”
Click on COUNTRY RANKING to find the rank of economic freedom. IMPORTANT – Make sure you use the Rank and not the Overall Score.
Click on EXPLORE THE DATA to find the rank of business, trade, financial freedom, and property rights.