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Eco335 Review Questions

Eco335 Review Questions. Exam # 1 Exam # 2 Exam # 3. Farm Product Prices. Figures 7 & 8 Total Tax Burden & Benefits Received. http://www.taxfoundation.org/files/wp1.pdf. Tables 5 & 6 Income and Tax Burdens. http://www.taxfoundation.org/news/show/250.html.

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Eco335 Review Questions

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  1. Eco335 Review Questions • Exam # 1 • Exam # 2 • Exam # 3

  2. Farm Product Prices

  3. Figures 7 & 8Total Tax Burden & Benefits Received http://www.taxfoundation.org/files/wp1.pdf

  4. Tables 5 & 6Income and Tax Burdens http://www.taxfoundation.org/news/show/250.html

  5. Tables 7.1, 2.3 & 3.1Taxes, Spending and Deficits http://www.whitehouse.gov/omb/budget/Historicals

  6. Table E.11Deficits and Debt http://www.cbo.gov/ftpdocs/120xx/doc12039/HistoricalTables%5b1%5d.pdf

  7. Can You Balance the Budget? • http://www.iona.edu/faculty/rjantzen/eco335/can you balance the federal budget.pptx

  8. Table 4 Poverty Rates http://www.census.gov/prod/2010pubs/p60-238.pdf

  9. Stock Market Prices (DJIA, S&P, NASDAQ) http://www.finance.yahoo.com

  10. Economic Growth • Labor Productivity Trends

  11. Eco335 Links Financial Crisis & Mortgages • http://www.dailyfinance.com/story/credit/whos-to-blame-for-the-mortgage-mess-banks-not-homeowners/19803636?a_dgi=aolshare_email • US Senate Bipartisan Report on Financial Crisis • Brookings Financial Crisis Report • Wall Street Journal • AIG Taxes • http://www.taxfoundation.org/files/wp1.pdf • http://www.taxfoundation.org/news/show/250.html Deficits • http://www.kowaldesign.com/budget/ • http://www.whitehouse.gov/omb/budget/Historicals - Tables 2.3 & 3.1 • http://www.cbo.gov/ftpdocs/120xx/doc12039/HistoricalTables[1].pdf – Table E.11 • http://www.nytimes.com/2011/04/04/us/politics/04spend.html?emc=eta1 • http://www.fiscalcommission.gov/sites/fiscalcommission.gov/files/documents/TheMomentofTruth12_1_2010.pdf Quality of Well-Being Comparisons to US • http://graphics8.nytimes.com/images/2011/02/19/opinion/19blowcht/19blowcht-jumbo-v2.gif

  12. Financial Reform • http://images.businessweek.com/mz/11/08/1108_mz_24polregulations.pdf • http://www.nytimes.com/2011/04/03/business/03gret.html?_r=1 New Way to Measure Inflation • http://www.businessweek.com/magazine/content/11_08/b4216036365985.htm?chan=magazine+channel_news+-+technology Health Care • Medicare & Medicaid • Private Health Insurance • Obama Reforms • Obama Reform Timeline • Obama Reform Details • Conservative Objections & Proposals • Heritage1 • Heritage2 • Heritage3 • Republican Budget Committee Chairman Paul Ryan Proposal

  13. Eco335 TakeHome Assignment State of the US Economy: The purpose of this assignment is to familiarize you with the present state of the US economy. By examining a variety of sectors, you will be able to explain where the US economy “is” right now, where it used to be, and what’s likely to happen in the near future. Students may discuss what they have found in the discussion forum on the course Blackboard site. Specifics: You must investigate the behavior of the economy characteristics listed below. Some are reported as annual values, so you should examine the past 20 years of values. Some are reported as monthly values, so you should examine the past 15 years or so. Some are reported as weekly values, so you should examine the past 4 years or so. For each characteristic, you should examine how it has behaved over time, focusing on when it peaked, when it bottomed out (& by how much), and how much it has since recovered. You can find data and charts for almost all of the series at the following websites: • FRED Economic Statistics of the FRB of St. Louis. State level data is available on the GEOFRED tab. http://research.stlouisfed.org/fred2/ • Yahoo’s Finance website http://finance.yahoo.com/ • Conference Board’s forecast for the US and World economies http://www.conference-board.org/data/usforecast.cfm • Commodity Prices (Corn & Wheat) http://future.aae.wisc.edu/tab/feed.html#65

  14. Traits to be Studied:  • Jobs – Employment, Unemployment, Median Duration of Unemployment & Civilian Employment to Population Ratio • Incomes – Disposable Personal Income, Personal Savings Rate, After Tax Corporate Profits and Consumer Sentiment • Production – Real GDP % change in the US and Europe & productivity (output per hour worked) numbers • International Trade & Finance – Exports, Imports, Trade Deficit and Net Lending/Borrowing in National Income Accounts • Federal Operating Finances – Federal Receipts, Federal Expenditures, Federal Savings (=Budget Balance) • Federal Debt – Total Public Federal Debt and Federal Debt Held by Foreigners • Commodity & Energy Costs – Corn, Wheat, Crude Oil & Natural Gas Spot Prices • Interest Rates & Inflation – Prime Rate, 30 Year Mortgage Rate, CPI Inflation • Housing – Housing Starts, Prices, Owners’ Net Equity, Household Mortgage Debt & Home Ownership % • Banks – Commercial Bank Total Loans & Leases, Adjusted Bank Reserves, Discount Window Borrowing & US Government Securities held by Commercial Banks • Exchange Rates - $ to Euro, Yen & Chinese Yuan values • Stock Prices – S&P500, Dow Jones Industrials, DAX (Germany), Nikkei (Japan) & Hang Seng (Hong Kong) • State by State Comparisons (use GEOFRED data) – Real GDP % change, Unemployment & Employment % change, Homeownership and Home Vacancy % • US & World (EU zone, Japan, China) Economic Forecast – Real GDP, Consumption, Housing, Capital Investment, Net Exports

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