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CORREGIDO - Bono Segundo Examen

CORREGIDO - Bono Segundo Examen

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Estudiantes ECON 3022 UPR Rio Piedras - este es el bono completo, con el artículo de referencia para las preguntas.
Estudiantes ECON 3022 UPR Rio Piedras - este es el bono completo, con el artículo de referencia para las preguntas.

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Published by: Rosario Rivera Negrón on Apr 17, 2010
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Universidad de Puerto RicoRecinto de Río PiedrasFacultad de Ciencias SocialesDepartamento de EconomíaNombre_______________________ ECON 3022Prof. Rosario Rivera Negrón, PhD(C)BONO SEGUNDO EXAMEN
Lea el artículo “
Economy at its lowest in 4 years
” y conteste las siguientes
preguntas:
1. De acuerdo al artículo, ¿Cuáles componentes del PIB tuvieron un efecto positivo en elcrecimiento económico total? ¿Cuáles tuvieron un efecto negativo en el crecimiento económico total?2. Dada la información en el artículo, ¿Cuál sería su estimado del crecimiento del PIB Nominal para elúltimo trimestre del 2006?3. Utilizando el concepto del flujo circular, discuta cómo los cambios en el mercado de trabajoestán relacionados al gasto de consumo (C) y al PIB
 
Economy At Its Slowest In 4 Years
By EDUARDO PORTER AND JEREMY W. PETERS
April 28, 2007
Economic growth slowed to its weakest pace in four years during the first three monthsof 2007, underscoring how the persistent slump in the housing market continued toserve as a drag on the American economy.In its first estimate of economic growth for the quarter, the Commerce Department said
the nation’s gross domestic produ
ct, the most comprehensive measure of overalleconomic activity, expanded 1.3 percent for the quarter, barely over half the raterecorded in the final quarter of last year.The abrupt slowdown was not enough to put a brake on inflation, however. Theconsumer price index most carefully monitored by the Federal Reserve, which excludes
food and energy, rose 2.2 percent in the quarter, at an annual rate, above the Fed’s
stated comfort ceiling.
’’It’s sort of more inflation, less growth,’’ said Stuart Hoffman, c
hief economist of PNC
Financial. ’’That’s not a tasty combination.’’ 
 On Wall Street, economists had forecast a slide in growth, but not one this sharp. Thedollar plunged against the euro, briefly falling to a record low as investors factored inexpectations of faster growth and rising interest rates in Europe against low growth andthe possibility of lower rates in the United States.But bond yields rose slightly, indicating deeper concern about potentially higherinflation. Stocks -- which have risen almost uninterruptedly since early March, defyingconcerns over a potential economic weakening -- ended mixed.Economists said that the latest report card left the Fed in even more of a quandary overinterest rates, with a weaker economy prodding it to cut rates to stimulate growth butinflationary pressures pushing it toward higher rates to curb price increases. The endresult is likely to be a decision by the central bank to keep rates where they are until aclearer picture emerges.
’’It’s a bugaboo for the Fed,’’ said John Silvia, chief economist at the WachoviaCorporation, the bank holding company. ’’It is a difficult spot to be in.’’ 
 As throughout much of last year, the housing slump was the biggest anchor on theeconomy. Home construction recorded its sixth consecutive quarterly decline, falling 17percent at an annual rate and subtracting almost a full percentage point from G.D.P.Still, there were several upbeat signals in the economic report that suggested to manyeconomists that the pace of growth could pick up this year. Business investment
 
rebounded from its slowdown late last year to expand at a 2 percent annual rate in thefirst quarter. Silicon Valley was a key to the revival: investment in informationtechnology contributed more than half a percentage point to growth in the quarter.And despite the worrisome state of housing, Americans continued to borrow and buy. Inthe first quarter consumer spending grew 3.8 percent, a fairly vigorous pace.But economic weakness also spread beyond housing. After a sharp cut in inventories inthe fourth quarter of last year, businesses slimmed their stockpiles a little more in thefirst quarter of 2007, shaving 0.3 percentage points from economic growth. A decline inmilitary spending by the government trimmed a quarter of a percentage point percentfrom total output.Trade provided the biggest surprise, when exports fell unexpectedly and importscontinued growing, subtracting half a percentage point from economic growth,according to the report.Economists pointed out that the preliminary data on trade is particularly sketchybecause the government did not yet have a good handle on exports and imports inMarch. But the data bewildered some analysts, who pointed out that the combination of a weak dollar and faster growth in Europe and elsewhere should be providing a lift toexports.
’’We completely discount this number,’’ said Nariman Behravesh, chief economist atGlobal Insight of Lexington, Mass. ’’It’s inconsistent with everything else going on in theworld.’’ 
 He suggested the estimate for first-quarter exports could be revised upward. And if not,he predicted, exports should record a sharp upswing in the spring quarter that is underway now.The weakness in the economy and the poor trade results contributed to the dollar routearly in the trading day. And some analysts on foreign exchange markets argued thatthe dollar could well continue its long fall against key currencies like the euro and theBritish pound.
’’The divergence in monetary policy and economic growt
h between Europe and the U.S.is going to grease the wheels of those central banks who want to diversify their
reserves away from the U.S. dollar,’’ said Ashraf Laidi, chief foreign exchange analyst at
CMC Markets U.S., a financial trading company.And a number of economists noted several reasons for the expected slow growth incoming quarters. The main one is the possibility of weaker consumer spending.
’’Rapidly rising energy prices and falling consumer confidence suggest that consumption
growth wi
ll slow markedly in the second quarter,’’ Paul Ashworth, senior United States
economist with Capital Economics, wrote in a research report.

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