Oklahoma State University Vaping as an Alternative to Smoking Discussion you should prepare a position based on how vaping is a better alternative and/or s

Oklahoma State University Vaping as an Alternative to Smoking Discussion you should prepare a position based on how vaping is a better alternative and/or safer than smoking and support it by recent medical research conducted on various models of vaping devices including Juil,smoke…etc. Also, how smoking is way worse than vaping.

Minimum 2 pages, single spaced, 1″ margins, 12pt Times New Roman. Figures are not included in the page minimum.

think about discussing underage users of both smoking and vaping, THC contamination, vape and smoking related illnesses,

Include:

Introduction – Introduce the field and the problem that has arisen. This should be detailed to give clear understanding of the field.

Position – Clearly state the position you are taking on the issue

Argument – Include sources, examples, and data to defend your position. Be sure the argument is organized and well-developed. This should be written to convince the reader of why your position is correct.

References References must be included.

at least six sources please

**also attached the Opposition position paper for your refrence on how the paper should be structured. 5-3
3. (Aggregate Demand and Supply) Review the information on demand and supply
curves in Chapter 4. How do the aggregate demand and aggregate supply curves presented
in this chapter differ from the market curves of Chapter 4?
5-4
6. (Supply-Side Economics) One supply-side measure introduced by the Reagan
administration was a cut in income tax rates. Use an aggregate demand/aggregate supply
diagram to show what effect was intended. What might happen if such a tax cut also shifted
the aggregate demand curve?
6-1
1. (Income Approach to GDP) How does the income approach to measuring GDP
differ from the expenditure approach? Explain the meaning of value added and its
importance in the income approach. Consider the following data for the selling price at
each stage in the production of a 5-pound bag of flour sold by your local grocer. Calculate
the final market value of the flour. Diagram Below…
Stage of Production
Sale Price
Farmer
$0.30
Miller
$0.50
Wholesaler
$1.00
Grocer
$1.50
6-1
2. (Expenditure Approach to GDP) Given the following annual information about a
hypothetical country, answer questions A through D. Diagram Below…
Billions of Dollars
Personal Consumption Expenditures
$200
Personal Taxes
$50
Exports
$30
Depreciation
$10
Government Purchases
$50
Gross Private Domestic Investment
$40
Imports
$40
Government Transfer Payments
$20
(A). What is the value of GDP?
(B). What is the value of net domestic product?
(C). What is the value of net investment?
(D). What is the value of net imports?
6-4
8. (Consumer Price Index) Calculate a new consumer price index for the data in the
following exhibit. Assume that current-year prices of Twinkies, fuel oil, and cable TV are
$0.95/package, $1.25/gallon, and $15.00/month, respectively. Calculate the current year’s
cost of the market basket and the value of the current year’s price index. What is this
year’s percentage in the price level compared to the base year?
6-4
9. (Consumer Price Index) Given the following data, what was the value of the
consumer price index in the base year? Calculate the annual rate of consumer price
inflation in 2013 in each of the following situations:
(A). The CPI equals 200 in 2012 and 240 in 2013.
(B). The CPI equals 150 in 2012 and 175 in 2013.
(C). The CPI equals 325 in 2012 and 340 in 2013.
(D). The CPI equals 325 in 2012 and 315 in 2013.
UNIT III STUDY GUIDE
Tracking the U.S. Economy
Course Learning Outcomes for Unit III
Upon completion of this unit, students should be able to:
3. Discuss various national economic indicators and how each relates to economic growth.
Reading Assignment
Chapter 5: Introduction to Macroeconomics
Chapter 6: Tracking the U.S. Economy
Unit Lesson
What are you personally experiencing now, due to the U.S. economy? Is the economy doing well, doing
badly, or about okay in your opinion? Politicians share a varied opinion, and individuals appear to be
affected differently, depending on economic status.
Weller (2014) reports that the economic situation is not positive. An examination of long-term
unemployment shows continued high rates. The growth in individual income shows slow growth. Poverty
remains a pervasive problem, and individuals find that they are losing by reductions in employer
contributions to health insurance, and retirement benefits are declining. Recommendations for action are
given. Economic policies are proposed that assist the weak in the U.S. society, such as policy action to
increase growth, restore funding for food stamps, raise minimum wage, and not to stop long-term
unemployment benefits (Weller, 2014, para. 1). One can see from these suggestions that intervention is
advocated to stimulate the economy and to use spending to protect the disadvantaged.
A critic of government intervention demonstrates a contrary viewpoint on the actions of the government
economic policies being implemented and advocated by the Federal Reserve. The pundit is very critical,
as noted by the following comment. “Surprise, surprise! Federal Reserve Chair Janet Yellen stated on
Monday 31st March that the Federal Reserve shall have to continue bolstering the US economy while it
remains stuck in the rut of economic slump” (“Yellen on US,” 2014, para. 2). The critic goes on to note
that the Federal Reserve is continuing to take actions that are not good for the economy and are just a
continuation of bad policy followed by bad policy.
Examination of key macroeconomic factors, such as unemployment and raising of the minimum wage,
may shed light on the reality that politicians spin things in a manner that sways voters. This spin, or the
need to present the economic situation in a certain manner to achieve political long-term outcomes,
makes the study of macroeconomics at this time, most interesting. It is hoped that one will take the time
to use learning time to evaluate, take a look at how the economy works, and form one’s own evaluation.
Perhaps, as Forrest Gump stated, “I believe both are right” is the conclusion drawn.
Consider two viewpoints of unemployment. Notice how wording and use of portions of statistics are used
to access blame, then examine what we know about unemployment.
Viewpoint one, is held by critic of Federal Reserve Chair Janet Yellen, and in favor of tightened monetary
spending policy:
There are 7 million people working part-time according to her figures in the US and that would like to
have a full-time job. Labor-force participation is down from pre-2008 levels of 66% to today’s level of
63%. (“Yellen on US,” 2014, para. 6)
BBA 2401, Principles of Macroeconomics
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This critic advocated for business stimulation by tax reduction on business andUNIT
control
of government
x STUDY
GUIDE
spending.
Title
Viewpoint two is held by a writer in favor of more economic spending for economic recovery. This viewpoint
notes the positive advantage of prior spending by government use of policies, by government spending to
stimulate the economy, and advocated for continued government spending to assist the economic recovery.
Statistics are given which show that private sector growth is growing, but that state and local governments
were short-sighted by eliminating much needed state government and local government positions such as
firefighters, teachers, and government assistance positions. This viewpoint notes that individuals need a
stimulated economy to create opportunity (Weller, 2014, para. 4-5).
It is fascinating to study economics at this particular time and to see how viewpoints can differ so widely on
how to solve economic problems. Are you seeing the extremes? One is to cut government spending, and the
other viewpoint is to increase government spending to solve economic woes. It is asked in this course to
consider the tradeoffs that come with either policy. Perhaps both positions could work, but certainly the choice
of one is the extreme opposite of the other. It is encouraged to not take a viewpoint that has preconceived
bias, but to consider the wisdom and prior use of both economic positions by government.
Finally, an examination of the raising the minimum wage argument is viewed from two radically different
perspectives. Again, it is encouraged not to take an automatic position, but consider the various viewpoints.
Keep in mind that there is much passion with these arguments, and as a student of macroeconomics, one is
encouraged to consider both without bias.
Consider this perspective in favor of raising the minimum wage:
Tens of thousands of Minnesota workers have big raises coming their way, courtesy of a new
minimum wage law that Gov. Mark Dayton signed Monday, which will take the state from one of the
nation’s lowest rates to among the highest. (Bakst, 2014, para. 1)
Minnesota goes from one of the lowest to one of the highest rates with a $3 increase in the minimum wage.
The governor notes that the legislation passed with only Democratic support and no Republican votes. He
notes that federal increase in minimum wage is not forthcoming, and it is up to states to take this type of
economic action. He notes that the lower wage individual needs to be given hope and be paid for his or her
hard work. The position is given that this wage increase still places the lower wage workers at economic
disadvantage.
Consider this perspective not in favor of raising minimum wage: “Raising the minimum wage in an effort to
increase living standards is like taking water from one end of the bathtub and pouring it in the other in an
effort to raise the overall water level” (Scott, 2014, para. 1). This position notes that business must pass on
the cost to consumers, or find cost reduction by automation, which eliminates employees, taking jobs to
countries where lower labor cost is a comparative advantage. It is argued that a minimum wage increase
simply results in a cost increase that makes the gaining of extra income from the wage negated, or
businesses can simply absorb the cost and make less money. However, businesses are profit motivated. This
viewpoint would argue that the proper method to help the lower paid positions is to assist businesses to grow,
and the demand for employees will push up minimum wage as competition for available limited workers will
push up wages by economic fiat.
Our study of macroeconomics allows one to consider the alternatives that economic leaders have to achieve
the same goals. There are trade-offs in every decision. Economic indicators measure macroeconomics’ goal
attainment. The roles of politicians are to set policies, but regardless of the approach taken, there will be valid
arguments on the best approach to take, which is the role of economists. Sounds messy, does it not?
Welcome to our imperfect economic world, but what a fascinating time to study this topic!
References
Bakst, B. (2014, April 15). Minnesota joins states raising minimum wage. Charleston Daily Mail. Retrieved
from http://www.huffingtonpost.com/2014/04/14/minnesota-minimum-wage_n_5149034.html
BBA 2401, Principles of Macroeconomics
2
Scott, K. (2014, April 01). Raising minimum wage. Deseret News Retrieved from
UNIT x STUDY GUIDE
http://www.deseretnews.com/article/865599911/Letter-Raising-minimum-wage.html?pg=all
Title
Weller, C. (2014, April). How is the economy doing in April? Michigan Chronicle Retrieved from
http://insurancenewsnet.com/oarticle/2014/05/19/how-is-the-economy-doing-in-april-a506473.html#.U-5R26NgDjs
Yellen on US economy. (2014). Retrieved from https://discuss.financialjuice.com/t/yellen-on-us-economy/452
Suggested Reading
Click here for the Chapter 5 Presentation in PowerPoint form. Click here to access a PDF version of the
presentation.
Click here for the Chapter 6 Presentation in PowerPoint form. Click here to access a PDF version of the
presentation.
Learning Activities (Nongraded)
Nongraded Learning Activities are provided to aid students in their course of study. You do not have to submit
them. If you have questions, contact your instructor for further guidance and information.
Review the online tutorials below [link to MyCourseTools tutorial of same name], which focus on specific
topics in Unit III.
Aggregate Supply
https://media.pearsoncmg.com/pcp/pls/pls_mycoursetools/fufillment/mct_1256689785_csu/prin_macro/redire
ct_01_pm_l10_t01.html
BBA 2401, Principles of Macroeconomics
3

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