Econ 111 Assignment Summer Substitute Sem. 2020
Answering the following questions helps you while you are studying for your final. Your well thought responses will be counted as part of your total grades. Use your own words and expressions when answering the following questions. Direct copying from a written source or internet materials is prohibited. You should read and review related topics in your textbook, see some external sources on the topic of the question, but the answer should be in your own words and expressions (using your own English even if it is weak). The assignment is due as Microsoft Word file only without cover on Tuesday, November 17, 2020, at 7 pm. No assignment will be accepted after this time. Your answers should be typed and should reflect your own efforts. It should be clear with the question number shown at the beginning of each answer. You must write your first name and last name (each starts with capital letter), followed by your KU ID number at the top left of the page.
Choose and respond to only two of the following three questions: Q1: National Accounts (200 250 words, Times New Roman Theme Font Size 12 Single space)
Briefly comment on the differences between Kuwaits GNI and GDP (2014-2018), focusing on the possible reasons behind such large and unstable differences:
Kuwait gni for 2018 was $141.86B Kuwait gni for 2017 was $128.42B Kuwait gni for 2016 was $145.94B Kuwait gni for 2015 was $163.12B Kuwait gni for 2014 was $187.32B
Kuwait gdp for 2018 was $140.65B Kuwait gdp for 2017 was $120.71B Kuwait gdp for 2016 was $109.42B Kuwait gdp for 2015 was $114.57B Kuwait gdp for 2014 was $162.63B
Q2: Keynesian Economics (200 250 words, Times New Roman Theme Font Size 12 – Single space) To achieve higher economic growth, do you suggest that Kuwait should focus more on spending its income at home only, or should it continue to spend part of its income to provide assistance to other countries? Why or why not?
Q3: Fiscal Policy (200 250 words, Times New Roman Theme Font Size 12 – Single space) Does Kuwait face a problem when it tries to use its Fiscal Policy tools to solve the current recession gap that started with the drop in oil prices since 2014? If yes, what is this problem? And do you have a suggestion to solve it?
