Microeconomics – Analyzing Quantitative Data Analyzing Qualitative Data Improvin

  

This is a writing assignment.  The actual form I must use is attached.Course Number: – BU224 Section Number: – 01 Unit Number: – 1 Regards,Bryan May
bu224_01_may_bryan_2.docx

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BU224 Unit 2 Assignment:
Name:
Course Number:
Section Number:
Unit Number:
Date:
– Bryan C. May
– BU224
– 01
-2
– 04/01/2015
———————————- General Instructions for all Assignments———————————–
1. Unless specified differently by your course instructor, save this assignment template to your
computer with the following file naming format:
Course number_section number_LAST_FIRST_ unit number
2. At the top of the template, insert the appropriate information: Your Name, Course Number,
Section Number and Date
3. Insert your answers below, or in the appropriate space provided for in the question. Your
answers should follow the APA format with citations to your sources and, at the bottom of your
last page, a list of references. Your answers should also be in Standard English with correct
spelling, punctuation, grammar, and style (double spaced, in Times New Roman, 12-point, black
font). Respond to questions in a thorough manner, providing specific examples of concepts,
topics, definitions, and other elements asked for in the questions.
4. Provide a list of references at the end of the last page of your assignment.
5. Upload the completed assignment to the appropriate dropbox.
6. Any questions about the assignment, or format questions, should be directed to your course
instructor.
——————————————- Career Competencies —————————————-In this assignment, you will engage in developing the following career competencies:
Analyzing Quantitative Data
Analyzing Qualitative Data
Improving Global Awareness
——————————————-
Assignment
——————————————-
1. A representative of the American clothing industry recently made the following statement:
“Workers in Asia often work in sweatshop conditions earning only pennies an hour. American
workers are more productive and as a result earn higher wages. In order to preserve the dignity of
the American workplace, the government should enact legislation banning imports of low – wage
Asian clothing.”
a. Which parts of this quote are positive statements? Which parts are normative statements?
Page 1 of 6
b. Is the policy that is being advocated consistent with the preceding statements about the wages
and productivities of American and Asian workers?
c. Would such a policy make some Americans better off without making any other Americans
worse off? That is, would this policy be efficient from the viewpoint of all Americans?
d. Would low – wage Asian workers benefit from or be hurt by such a policy?
Instead of legislation banning the imports, assume that the government enacts a special tax on
imported clothing that is so high that the selling price of the imports would be equal to the selling
price of the same clothing made in America. This kind of tax is called a tariff and is enacted to
protect domestic producers of the same items that can be imported at much lower costs. Answer
the following:
e. What would shoppers see when they shopped in Wal-Mart and the other “big box” stores that
sell so many imported items?
f. Would this tax policy have a better effect, worse effect, or no different effect on American
workers than the legislation banning the imports discussed in question 1? What kind of effect
would the tax have on the Asian workers?
2. In the ancient country of Roma, only two goods, spaghetti and meatballs, are produced. There
are two tribes in Roma, the Tivoli and the Frivoli. By themselves, the Tivoli each month can
produce either 30 pounds of spaghetti and no meatballs, or 50 pounds of meatballs and no
spaghetti, or any combination in between. The Frivoli, by themselves, each month can produce
40 pounds of spaghetti and no meatballs, or 30 pounds of meatballs and no spaghetti, or any
combination in between.
Page 2 of 6
Examine the first diagram showing the monthly production possibility frontier for the Tivoli and
the monthly production possibility frontier for the Frivoli.
a. Which tribe has the comparative advantage in spaghetti production?
b. Which tribe has the comparative advantage in meatball production?
In A.D. 100 the Frivoli discover a new technique for making meatballs that doubles the quantity
of meatballs they can produce each month. Examine the new monthly production possibility
frontier for the Frivoli.
Page 3 of 6
c. After the innovation, which tribe now has an absolute advantage in producing meatballs?
d. Which tribe now has an absolute advantage in producing spaghetti?
e. Which has the comparative advantage in meatball production?
f. Which has the comparative advantage in spaghetti production?
3. According to the U.S. Census Bureau, in July 2006 the United States exported aircraft worth
$1 billion to China and imported aircraft worth only $19,000 from China. During the same
month, however, the United States imported $83 million worth of men’s trousers, slacks, and
jeans from China but exported only $8,000 worth of trousers, slacks, and jeans to China. Using
what you have learned about how trade is determined by comparative advantage, answer the
following questions.
Page 4 of 6
a. Which country has the comparative advantage in aircraft production? Which country has the
comparative advantage in production of trousers, slacks, and jeans?
b. Can you determine which country has the absolute advantage in aircraft production? which
country has the absolute advantage in production of trousers, slacks, and jeans?
——————————————-References:
Page 5 of 6
Unit _2_ Practice Assignment Grading Rubric
Percent
Possible
Content
Points
Possible
Full assignment
100%
40
Overall Writing:
20%
8
correct coversheet information at the top of 1st page
5%
2
APA format for answers
3%
1
correct citations
3%
1
standard English no errors
4%
2
At least ONE, or more, references
5%
2
Answers: provides complete information demonstrating
analysis and critical thinking:
80%
32
Individual Questions:
1. a. – Which statements are positive, which are normative?
7%
3
1. b. – Is the policy consistent with the
7%
3
1. c. – Would Americans be better, or worse off?
7%
3
1. d. – What would be the impact on Asian workers?
5%
2
1. e. – What would shoppers see, if import tax created?
7%
3
1. f. – Is tax better, or worse than ban?
7%
3
2. a. – Which has comparative advantage in spaghetti?
5%
2
2. b. – Which has comparative advantage in meatballs?
5%
2
2. c. – With innovation who has absolute advantage in
meatballs?
5%
2
2. d. – Who has absolute advantage in spaghetti?
5%
2
2. e. – Who has comparative advantage in meatballs?
5%
2
2.f. – Who has comparative advantage in spaghetti?
3. a. – Who has comparative advantage in aircraft and
clothes?
5%
2
5%
2
3.b. – Who has absolute advantage in aircraft and clothes?
5%
2
Page 6 of 6

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