DATA EXERCISE #1
Due at the end of week 3
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:
Data exercise #1 Assignment
Consists of two parts.
Part 1: Expenditures Approach to Calculating GDP (weight 50% of the assignment grade)
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).
You need this information from bothparts 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 Table3 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
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.
In this report consider, but do not be limited to the following:
Part 2: Income Approach to Calculating GDP (weight 50% 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).
Omit the intermediate lines found in Tables7 and 8 on the web site.
Gross domestic product
Gross national product
Net national product(you should calculate it as Gross national productminus Consumption of fixed capital)
National income
Personal income
Present the information that you received in your project.
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