Format of the Project:
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.
Please note that starting from the Fall 2020 semester the UMGC moved to the 7th Edition of the APA Style. The links to the 7th Edition of the APA Style methodology are posted in Content Course Resources Writing Resources.
No more than 20% of the text of the project should be made up of quotes.
Please note that Use of the 7th Edition APA Citation Methodology is required for all parts of the assignment.
Written projects:
Must be typed, double-spaced, in 12-point Times New Roman or Arial font, with one-inch margins
Must have the title page in APA-7th style
Must have in-text citations in APA-7th edition style
Must have reference list in APA-7th edition style. Please note that you must reference the data you are using for the project
Must be prepared using word processing software (Microsoft Word preferred)
Data exercise #1 Assignment
Consists of two parts.
Part 1: Expenditures Approach to Calculating GDP (weight 45% of the assignment grade)
BEA estimates the nations GDP for each year and each quarter. But new GDP statistics are released every month. Why? Because for each quarter, BEA estimates GDP three times. The advance estimate, coming about a month after the quarters end, is an early look based on the best information available at that time. The second estimate and third estimate each incorporate additional source data that werent available the month before, improving accuracy.( www.bea.gov).
BEA publishes estimates of levels at annual rates (for most series) for ease of comparisons with related and historical data. For example, in its February 2, 2004 personal income and outlays release, BEA estimated that personal income for December 2003 was $9,335.8 billion at an annual rate. This is easily compared to BEAs estimates of personal income for the fourth quarter of 2003 ($9,312.6 billion, at an annual rate) and for the entire year of 2003 ($9,187.4 billion).(www.bea.gov).
Published
January 13, 2006
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. (To find Full Release and Tables you need to scroll down the page to the section Current Release.
Use table 3 (Gross Domestic Product: Level and Change from Preceding Period). Tables are located at the end of the Release, so you need to scroll all the way down to the tables.
The left columns are nominal GDP (and its components) and the right half represents real GDP (chained 2012 dollars).
Create the table that contains the following information for the last available quarter. Please note that using the data for previous years and/or previous estimates will produce grade zero for this part of the project.
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
b) Calculate the percentage (the proportion) of each category in nominal GDP and in real GDP.
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 (a) and (b) as a table(s) in your project.
Write a report (2 pages double spaced), which contains an analysis of the results you received.
In this report consider, but do not be limited to the following:
Why was the nominal GDP greater than the real GDP? By how much?
GDP is composed of a number of categories. What category makes up the largest portion of GDP? What category makes up the smallest portion of GDP?
What is Gross private domestic investment? What does gross private domestic investment measure?
What is Net exports of goods and services? Why it is negative?
In the left part of the table 3 (nominal GDP) find the category National defense. How much was the National defense for the last quarter? Calculate percentage of National defense out of Government consumption expenditures and gross investment. Calculate percentage of National defense out of GDP.
Please analyze and discuss the significance of the data that you received for this Data exercise.
Reflect on what you have learned from this exercise.
Part 2: Income Approach to Calculating GDP (weight 45% 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).
Create the table that contains the following information for the last quarter where data required for this exercise is available.
Please note that using the data for previous years and/or previous estimates will produce grade zero for this part of the project.
Omit the intermediate lines found in Tables 7 and 8 on the web site.
Gross domestic product
Gross national product
Net national product (you should calculate it as Gross national product minus Consumption of fixed capital)
National income
Personal income
Personal Disposable Income
Personal Savings
Present the information that you received in your project.
2. Write a report in your own words (2 pages, double-spaced), which contains the analysis of the results you received. In this report consider, but do not be limited to the following:
What is the difference between gross domestic product (GDP) and gross national product (GNP)? What is the difference in what GDP measures compared to GNP?
Based on the table, what calculations must you make to determine GNP from GDP?
What is national income (NI)? What does NI measure?
Which was higher in this year, GNP or NI? By how much?
What calculations must you make to determine NI from GNP?
NI is composed of a number of categories. What category makes up the largest portion of NI?
What calculations must you make to determine Personal Income from National Income?
What calculations must you make to determine Personal Disposable Income and Personal Savings?
Please analyze and discuss the significance of the data that you received for this Data exercise.
Reflect on what you have learned from this exercise.
PRESENTATION OF THE DATA EXERCISE AND USE OF APA CITATION METHODOLOGY (10%) of the project grade):
Organization, format, and presentation of paper including the title page, introduction, body, and summary. Begin each section with a subheading; use the subheadings described in the assignment (3% of the project grade).
Use of tables, figures, and other graphics to summarize and support analysis presented in the paper. All tables and charts should have the numbering system: Table 1, a substantive title, and a reference to the source of the information. (3% of the project grade).
Research sources and significance of research information and data, and use of APA citation methodology (4% of the project grade).
Do you need any assistance with this question?
Send us your paper details now
We’ll find the best professional writer for you!
"We offer the best custom paper writing services. We have done this question before we can also do it for you."
![](/wp-content/uploads/2022/05/order-img.jpeg)
- 100% non-plagiarized Papers
- 24/7 /365 Service Available
- Affordable Prices
- Any Paper, Urgency, and Subject
- Will complete your papers in 6 hours
- On-time Delivery
- Money-back and Privacy guarantees
- Unlimited Amendments upon request
- Satisfaction guarantee
Our Service Charter
1. Professional & Expert Writers: Experts Essays only hires the best. Our writers are specially selected and recruited, after which they undergo further training to perfect their skills for specialization purposes. Moreover, our writers are holders of masters and Ph.D. degrees. They have impressive academic records, besides being native English speakers.
2. Top Quality Papers: Our customers are always guaranteed of papers that exceed their expectations. All our writers have +5 years of experience. This implies that all papers are written by individuals who are experts in their fields. In addition, the quality team reviews all the papers before sending them to the customers.
3. Plagiarism-Free Papers: All papers provided by Experts Essays are written from scratch. Appropriate referencing and citation of key information are followed. Plagiarism checkers are used by the Quality assurance team and our editors just to double-check that there are no instances of plagiarism.
4. Timely Delivery: Time wasted is equivalent to a failed dedication and commitment. Experts Essays are known for the timely delivery of any pending customer orders. Customers are well informed of the progress of their papers to ensure they keep track of what the writer is providing before the final draft is sent for grading.
5. Affordable Prices: Our prices are fairly structured to fit in all groups. Any customer willing to place their assignments with us can do so at very affordable prices. In addition, our customers enjoy regular discounts and bonuses.
6. 24/7 Customer Support: At Experts Essays, we have put in place a team of experts who answer all customer inquiries promptly. The best part is the ever-availability of the team. Customers can make inquiries anytime.