Book Analysis 1

IBUS 301-S3 (Fall 2021)

The Choice, (Page 1-36)

Task 1 1990’s Economic Data

ITEMS Points Possible For Content Points Possible For Presentation
A, B, C, D
0 | 5 | 8 | 10 0 | 5 | 8 | 10
(graded as one item)
E 0 | 5 | 8 | 10

A.- Real-GDP (to be reported quarterly)

Definition: -answer box expands if needed-

Source: -answer box expands if needed-

Graph 1 | 1990-1994 (5 years of data): -insert graph below this title-

Graph 2 | 1995-1999 (5 years of data) -insert graph below this title-

B.- Real-GDP Per Capita (to be reported annually)

Definition: -answer box expands if needed-

Source: -answer box expands if needed-

 Graph 1 | 1990-1994 (5 years of data): -insert graph below this title-

Graph 2 | 1990-1994 (5 years of data): -insert graph below this title-

C.- Unemployment Rate (to be reported monthly or quarterly)

Definition: -answer box expands if needed-

Source: -answer box expands if needed-

Graph 1 | 1990-1994 (5 years of data): -insert graph below this title-

Graph 2 | 1990-1994 (5 years of data): -insert graph below this title-

D.- Balance of Trade (to be reported annually)

Definition: -answer box expands if needed-

Source: -answer box expands if needed-

Graph 1 | US vs. Japan 1990-1999 (10 years of data): -insert graph below this title-

Graph 2 | US vs. Mexico 1990-1999 (5 years of data): -insert graph below this title-

E.- Conclusion -answer box expands if needed-

 Task 2 Political Composition and Current Event
ITEMS A B C
Points 0 | 2 0 | 2 0 | 4 | 6

A. President on January 1960

Name:
Political Party:
Source of Information
(Bibliography, links):

B. Composition of Congress (% representation from each party)

House of Representatives: % Republican: % Democrat:

Senate: % Republican: % Democrat:
Source of Information
(Bibliography, links):

C. Important political, economics, cultural, or business event that took place in the period between the year 1955
and 1960.

Event:
Information describing the
event:
Source of Information
(Bibliography, links):

Task 3 Comparative Advantage

ITEMS A B
Points 0 | 3 | 5 0 | 5 | 8 | 10

A. Definition for Comparative Advantage: -answer box expands if needed-

B. Example of Comparative Advantage (No length limit):

 Task 4 Overall Economic Data
ITEMS 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10
[1 point per item]

The following text paraphrases content is found in pages 16, 17, 27, and 28. Fill in the blank by providing answers in
the table shown after the text below.

The government collects wage data for what it calls “production or nonsupervisory workers.” They make up about
[ A ] percent of the workforce.

The average worker in this group made:

 In 1960: $ [ B ] per hour
 In 2004: $ 15.48 per hour

In 2024, workers took much more of their income in the form of fringe benefits such as pension plans, health and dental
insurance, and longer vacations. In fact, such forms of compensation more than [ C ] between 1960 and 2004.

…. But, when the looking at a broader population (virtually everyone other than federal employees), real hourly
compensation for this group increased by more that [ D ] from 1960 to 2004.

…. But the broadest measure of economic well-being is GDP per capita. After inflation (chained/real) that number
increased over [ E ] percent between 1960 and 2004.

The television jobs are gone. But they have been replaced by other jobs. Think about agriculture. In 1990, about
[ F ] percent of the American workforces was in agriculture. By the end of the twentieth century, that number was
under [ G ] percent.

Between 1960 and 2004, the proportion of workers in manufacturing fell from [ H ] percent to 11 percent. And even
absolute numbers fell, not just the proportion. America still makes plenty of stuff. Even though there were fewer
workers in manufacturing in 2005 compared to 1060, manufacturing output increased dramatically. It was about [ I ]
times higher.

Not all manufacturing jobs pay well. Between 1960 and 2005, the manufacturing jobs that paid the least and required
the least skill left America. It is precisely because the proportion of employment in manufacturing fell from 28 percent to
[ J ] percent that the wage premium for manufacturing stayed as high as it did. The manufacturing jobs that were no
longer in America weren’t a random cross section of the manufacturing sector. They were the lowest paying jobs
requiring the least skill. If America had kept all the jobs in manufacturing, the manufacturing wage premium would have
fallen.

Provide the 10 answers in the table below:

A F
B G
C H
D I
E J
Each answer worth 1 point. I will only mark those that are wrong.
 Task 5 Tradable Services
ITEMS Points Possible For Content
Points 0 | 1 | 2 | 3 | 4 | 5
[1 point per item and its explanation – each pair has to make sense to earn the point]

A. List of 5 services in existence today that in your opinion can be imported/exported -answer box expands if needed-

Item 1: Explanation:

Item 2: Explanation:

Item 3: Explanation:

Item 4: Explanation:

Item 5: Explanation:

Task 6 Assignment Conclusion

ITEMS Points Possible For Content
Only Item 0 | 5 | 10 | 15 | 20

B. Conclusion: -answer box expands if needed-

Points for overall assignment

ITEMS Points Possible For Content
Only Item 0 | 4 | 8 | 10
You are all done. No additional information needed.