Growth Formulas and Relation to Welfare

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In macroeconomics there are two key questions: first, how to measure (real) output growth? and second, how is growth connected to wellbeing?

As for the first question, there are three ways to measure real GDP growth. It starts with the definition of a percentage difference between two numbers, say x1 compared to x0. When there is only one good (e.g. apples) there are no prices to worry about for the calculation. But for the economy as a whole, we need prices to be able to add up quantities (of apples, bananas, and everything else) in dollar terms. So for real GDP growth, which holds prices constant on a given base year to control for inflation, then the trick is to apply those prices before, during, and after that base year in order to calculate the total dollar value of all goods and services produced and track growth that is not affected by inflation.

In this exercise you will work out the connection between the three ways to measure GDP growth: A) As a percentage change holding prices constant. B) Expressing growth in terms of a common item (converting everything into a particular good (e.g. apples). And C) as the weighted average of the growth in each of the goods weighted by their corresponding expenditure shares.

The second question in macroeconomics refers to a mapping from goods and services to subjective well-being. That is, why do we care about economic growth, after all?

Sample Solution

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Hypertension evidence-based practice

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Write a 1750- to 3,500-word evidence-based practice paper that you would consider submitting for publication on the evaluation, assessment, diagnosis, and treatment of the topic you selected in Week 1. Apply appropriate national guidelines and evidence-based practice guidelines.

Sample Solution

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“The Effects of Negative Managerial Feedback on Student Motivation

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Morgan states that students are treated differently by educators depending on their gender. Educators, for the most part, find it easier to approach male students rather than female students, especially with issues relating to math and science. This behavior is affecting students with their learning, creating an unequal classroom.

For this essay, you should do the following*
In your introduction, summarize the novel.
Identify your main claim (thesis statement) about the issue.
Develop ideas/reasons to convince your readers of your main claim.
Support your various ideas/reasons with specific examples and quotes from the texts we have read in class and from outside sources. Remember to have one to two quotes per paragraph.
Use one to two block quotes.
Remember to always explain the relevance of those examples/sources as they relate to/support your claim.

Sample Solution

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Characteristics of the First Party System in the United States and its legislative consequences

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A. Explain (suggested length of 2–3 paragraphs) the reasons for the rise of partisan politics in the Early Republic (i.e., major conflicts and concerns, development of the First Party System).

B. Discuss the development of the Second Party System (suggested length of 2–3 paragraphs) by doing the following:

  1. Compare the platforms of the Whig and Democratic parties.
  2. Describe the leaders and constituents that defined each party.
  3. Explain how the Second Party System contributed to increased democratization of American politics.

C. Discuss the major movements and events that led to the Civil War (suggested length of 2–3 paragraphs) by doing the following:

  1. Explain the pro-slavery and abolitionist arguments of the antebellum period.
  2. Describe the role of westward expansion in increasing sectional tensions.
  3. Evaluate how three major events (e.g., significant legislation, territorial conflicts, court cases, political debates) contributed to the outbreak of the Civil War.

D. Provide acknowledgement of source information, using in-text citations and references, for quoted, paraphrased, or summarized content.

Sample Solution

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