Chicago State University Imports Exports and Firm Product Scope Economic Questions

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Question 1 ( maximum 300 words)
Turkey is choosen for the research:
http://hdr.undp.org/en/composite/HDI
https://databank.worldbank.org/data/download/GDP.pdf
i.
Gather the data for the NGDP and RGDP for the country of your choice. The period
covered is 2001-2021 (2 marks)
ii.
Based on the data you have collected, which year did the country of your choice
perform the best? Select 2 GDP components (C, I, G, or NX) that have significantly
increased during this period and investigate the reason behind the significant
growth in these variables. You will need to present data, statistics, and reliable
report/s as evidences to your findings. (5 marks)
Question 2 (150 words, +/- 20%)
Europe to reopen borders to vaccinated foreign tourists from March 1 – VnExpress
International
Vietnam to reopen international tourism from March 15 – VnExpress International
i.
Using the cases above, demonstrate the concepts of scarcity and opportunity cost/trade
off. Provide the clear alternatives to the scenarios presented and their likely
costs/benefits. (2 marks)
ii.
Select 2 positive and 2 normative statements from each article. (1 mark)

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Explanation & Answer:
2 pages

Tags:
Gross domestic product

world bank

annual growth

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