Instructions for Submitting and Labeling an Economics Assignment

Penalties for Failing to Meet Requirements

Instructions:

You can submit an individual or group assignment.  If you submit a group assignment, there must be no more than FIVE students in your group (coming from the section of MGEB05 this term) and you just have to submit ONE copy.

A PENALTY OF 10% OF THE TOTAL MARKS will be imposed if you FAIL TO DO EITHER OF THE FOLLOWING (20% if you fail to do both):

1)Submit this page as your cover page (complete the information above)

2)STAPLE your assignment (paper clips are NOT accepted)

Label your graph(s); otherwise, marks will be subtracted.

No credit will be given if you do not show your work (i.e. don’t simply say the answer is 3 write down enough of the steps you used to arrive at this answer).

Your answer should be structured in a way such that those that know little about economics will have no difficulty understanding your argument/answer.

DO NOT USE any notations that are not used in lectures.  If you use your own notations and/or abbreviations that are not being used in lectures, you will receive a grade of zero for that question.

Notes:

Keep your answers to at least 2 decimal places. 

a)Use the expenditure approach to solve for nominal: GDP, private sector consumption, and net exports for all three years.

b)Compute the GDP deflator for all three years, using year 1 as the base year.

c)Find the CPI for all three years, using year 1 as the base year.

d)Did CPI and GDP deflator move to the same direction?  If not, why?