Economics homework help

| January 2, 2016

Module 5 – Case
ECONOMIC GROWTH
Case Assignment
Submit a 4- to 5-page paper that addresses the following questions. Be sure to use references within the paper to support your answers. Show work for all calculations.
1. (a.) Suppose real GDP was $13.1 trillion in 2013 and $13.3 in 2014, what is the growth rate? (b.) How many years would it take for GDP (gross domestic product) to double (using your answer from part (a)?
2. What are the sources of human capital? Discuss some specific examples.
3. What is the law of diminishing returns? Give an example of what the law of diminishing returns implies.
4. What happens when the government raises taxes and uses revenue to engage in spending?
Assignment Expectations
Use concepts from the modular background readings as well as any good-quality resources you can find. Be sure to cite all sources within the text and provide a reference list at the end of the paper.
Length: 4–5 pages double-spaced and typed.
The following items will be assessed in particular:
• Your ability to understand what factors affect economic growth.
• Some in-text references to the modular background material (APA recommended).
• The essay should address each element of the assignment. Remember to support your answers with solid references including the case readings.
When your paper is completed, upload it to the Case 5 dropbox

Module 5 – Background
ECONOMIC GROWTH
How exactly do economies grow? That is the main focus of this module. We will examine the dynamics of economic growth and learn about the roles technological progress, capital, human capital, and others play in the growth of an economy.
Required Reading
Economic Growth http://www.pearsoncustom.com/mct-comprehensive/asset.php?isbn=1269879944&id=11648
Podcast
Economic Growth http://www.pearsoncustom.com/mct-comprehensive/asset.php?isbn=1269879944&id=12298
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