Exercise on Nominal vs Real GDP
Order ID: 89JHGSJE83839 Style: APA/MLA/Harvard/Chicago Pages: 5-10 Instructions:
Question Description
This exercise deals with the difference between nominal and real GDP, as well, as the characteristics of the components of GDP over time.– Go to BEA.gov and get Tables 1.1.5 (nominal GDP) and 1.1.6 (real GDP) and download them for the period 1960 to the latest available year in annual frequency.
– What is the base year in table 1.1.6?
– Plot line 1 of both tables on a single graph. Where do they cross? What is the relationship between real and nominal GDP before and after the crossing point? Why?
– Take the natural log of real GDP (line 1) and plot the change in GDP from one year to the next measured by ln(GDP(t)) – ln(GDP(t-1)). (If you multiply by 100, it will be in percentage.) Is there something in the picture that catches your eye? (Hint: look at the volatility of the series.)
– Using nominal GDP calculate and plot the GDP shares of Consumption (line 2), Investment (line 7), Government (line 22), and Net Exports (line 15). For example, the consumption share is C/Y or line 2 / line 1. What can you say about these shares?
RUBRIC
Excellent Quality
95-100%
Introduction 45-41 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Literature Support
91-84 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Methodology
58-53 points
Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met.
Average Score
50-85%
40-38 points
More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided.
83-76 points
Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration.
52-49 points
Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met.
Poor Quality
0-45%
37-1 points
The background and/or significance are missing. No search history information is provided.
75-1 points
Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration.
48-1 points
There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met
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Exercise on Nominal vs Real GDP