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(1)“Comparative advantage can explain why people pursue different occupations. It can also explain why countries produce different goods and services. International trade involves many countries importing and exporting many different goods and services. Countries are better off if they specialize in producing the goods for which they have a comparative advantage. They can then trade for the goods for which other countries have a comparative advantage” (Hubbard, R. G. & O’Brien, A. P., p. 277, 4th edition). Based on your knowledge of comparative advantage, look at U.S. exports and imports. Note that we both export and import some of the same products.  If specialization is the essence of comparative advantage, why would we import and export the same product categories?  (2) Identify the capital resources for the country you selected for your term paper (Phillipines).  Are the machinery, equipment, and processes outdated?  What would a firm need to do to ensure production efficiency, if anything at all? What is its balance of trade and balance of services?  How will these figures impact firms.  Explain, using the tools of economic analysis to support your thoughts. (3)Aggregate demand involves the purchasing actions taken by consumers, businesses, governments, and the spending by U.S. and foreign firms and U.S. and foreign consumers. At this time, we know that consumers and firms are spending very little in the United States and around the world. Should governments in the United States spend more, increasing our debt, to compensate for the minimal spending we see by consumers and the private sector?  (Keep in mind that our current national debt is $16 trillion.  This comes to a debt of $52,209 per person in the United States and $145,787 per U.S. taxpayer.)   If indeed governments spend more, will the jobs created be permanent or temporary? Support your thoughts using the tools of economic analysis. (4)What actions has the Federal Reserve taken to try to pull the United States out of this economic down turn? Have these actions worked? Should the FED just print money and try to stimulate the economy? How would this action impact the potential for inflation?  In the same respect, what actions has the federal government taken to stimulate the economy?  What else can it do?  Will these actions work?  Discuss and support using the tools of economic analysis.

OnlineDiscussion Rubric

Criteria

Levels of Achievement

Excellent Very Good Good Adequate Marginal Inadequate

Analytic
Reasoning &
Evaluation

7 Points

Asserts an
insightful position
and provides
multiple sound
reasons to justify it.
Provides an
analysis that
reflects a thorough
consideration of
the complexity of
the issue.

6.65 Points

States a thoughtful
position and provides
multiple sound
reasons to justify it.
Provides an analysis
that reflects some
consideration of the
complexity of the
issue.

5.95 Points

States a clear
position and some
sound reasons to
support it.
Provides some
careful analysis,
but it lacks
consideration of
the issue’s
complexity.

5.25 Points

States or implies a
position and
provides few
reasons to support
it. Provides some
superficial analysis
of the issue.

4.55 Points

States or implies a
position and
provides vague or
very few reasons
to support it.
Provides little
analysis, and that
analysis may
reflect an
oversimplification
of the issue.

3.85 Points

States an unclear
position (if any)
and fails to
provide reasons
to support it.
Provides very little
evidence of
analysis. May not
understand the
issue.

Writing
Effectiveness

2 Points

Organizes response
in a logically
cohesive way that
makes it very easy
to follow the
writer’s argument.
Provides valid and
comprehensive
elaboration on
each reason for the
writer’s position.

1.9 Points

Organizes response
in a logically cohesive
way that makes it
fairly easy to follow
the writer’s
argument. Provides
valid elaboration on
each reason for the
writer’s position.

1.7 Points

Organizes
response in a way
that makes the
writer’s argument
and logic apparent
but not obvious.
Provides valid
elaboration on
reasons for the
writer’s position
several times.

1.5 Points

Provides a limited
or somewhat
unclear argument.
Presents relevant
information, but
that information is
not woven into an
argument.
Provides valid
elaboration on
reasons for the
writer’s position a
few times.

1.3 Points

Provides limited,
invalid, overstated
or very unclear
argument. May
undermine own
points. Any
elaboration on the
reasons for the
writer’s position
tends to be vague,
irrelevant,
inaccurate, or
unreliable.

1.1 Points

Fails to develop a
convincing
argument. The
writing may be
disorganized and
confusing. Fails to
provide
elaboration on
reasons for the
writer’s position.

Criteria
Levels of Achievement
Excellent Very Good Good Adequate Marginal Inadequate

Writing
Mechanics

1 Point

Demonstrates
outstanding control
of grammatical
conventions.
Consistently writes
well-constructed,
complex sentences
with varied
structure and
length. Displays
adept use of
vocabulary that is
precise, advance,
and varied.

0.95 Points

Demonstrates very
good control of
grammatical
conventions.
Consistently writes
well-constructed
sentences with
varied structure and
length. Uses varied
and sometimes
advanced vocabulary
that effectively
communicates ideas.

0.85Points

Demonstrates
good control of
grammatical
conventions with
few errors. Writes
well-constructed
sentences with
some varied
structure and
length. Uses
vocabulary that
clearly
communicates
ideas but lacks
variety.

0.75 Points

Demonstrates fair
control of
grammatical
conventions with
frequent minor
errors. Writes
sentences that
read naturally but
tend to have
similar structure
and length. Uses
vocabulary that
communicates
ideas adequately
but lacks variety.
Errors in grammar,
spelling,
mechanics, and
punctuation
sometimes affect
clarity.

0.65 Points

Demonstrates
poor control of
grammatical
conventions with
frequent minor
errors and some
distracting errors.
Consistently
writes sentences
with similar
structure and
length, and some
may be difficult to
understand. Uses
simple
vocabulary, and
some vocabulary
may be used
inaccurately or in
a way that makes
meaning unclear.
Errors in
grammar, spelling,
mechanics, and
punctuation
impede
understanding.

0.55 Points

Demonstrates
minimal control of
grammatical
conventions with
many errors that
make the
response difficult
to read or
provides
insufficient
vocabulary. Some
vocabulary is used
inaccurately or in
a way that makes
meaning unclear.
Major sentence
errors; 2 or more
fragments and/or
run-on sentences.
Excessive
mechanical errors.