Clon de I can explain the primary uses of national income statistics by Rafaela BASURCO CASELLA https://padlet.com/rafaelabasurco1/so5nm57vej29s519 Made with no regrets, whatsoever en-us 2021-03-08 19:44:36 UTC 2025-10-05 15:11:03 UTC hello@padlet.com IN BREAKOUT GROUPS Answer on google slides rafaelabasurco1 https://padlet.com/rafaelabasurco1/so5nm57vej29s519/wish/1284166915 1. What relationship would we expect between these two and why?
   - I would expect economic growth to increase make a decrease in unemployment because as the economy increases more jobs are created as well, leading to more people being hired.

2. What do you call someone who wants a job (and is physically, legally and mentally capable of working) but can’t find one?
  - Unemployed

3. Does our expectations about this link between growth and unemployment correspond to the correlations in the real world? 
-]]> 2021-03-08 19:44:36 UTC https://padlet.com/rafaelabasurco1/so5nm57vej29s519/wish/1284166915 US Unemployment data rafaelabasurco1 https://padlet.com/rafaelabasurco1/so5nm57vej29s519/wish/1284166917 4. Describe differences in unemployment between the pandemic and the great recession of 2008/09 in the US.
 - Covid had a much higher rate of unemployment
- The increase was sort of gradual, while ]]> 2021-03-08 19:44:36 UTC https://padlet.com/rafaelabasurco1/so5nm57vej29s519/wish/1284166917 Watch "The Big Short'' clip rafaelabasurco1 https://padlet.com/rafaelabasurco1/so5nm57vej29s519/wish/1284166918 1. Find out what's Brad Pitt's next line.

2. Give at least 2 reasons why we might expect this correlation.ie why does unemployment matter?]]> 2021-03-08 19:44:36 UTC https://padlet.com/rafaelabasurco1/so5nm57vej29s519/wish/1284166918 This is a moving personal account of a young single mother's struggles as a result of not having a job rafaelabasurco1 https://padlet.com/rafaelabasurco1/so5nm57vej29s519/wish/1284166922 2021-03-08 19:44:36 UTC https://padlet.com/rafaelabasurco1/so5nm57vej29s519/wish/1284166922 Extension Some extra data on unemployment for context rafaelabasurco1 https://padlet.com/rafaelabasurco1/so5nm57vej29s519/wish/1284166924 2021-03-08 19:44:36 UTC https://padlet.com/rafaelabasurco1/so5nm57vej29s519/wish/1284166924 rafaelabasurco1 https://padlet.com/rafaelabasurco1/so5nm57vej29s519/wish/1284166926 3. Skim this article in no more than 1 minute. List one negative consequence of unemployment described in the article.
    - Happiness decrease
- Loss of insurance]]> 2021-03-08 19:44:36 UTC https://padlet.com/rafaelabasurco1/so5nm57vej29s519/wish/1284166926 IN BREAKOUT GROUPS Answer on google slides rafaelabasurco1 https://padlet.com/rafaelabasurco1/so5nm57vej29s519/wish/1284166931 Use the  2 textbook resource below (or your own prior knowledge based on our previous classes)
  1. What is the most well known way of describing ‘national income’’?

]]> 2021-03-08 19:44:36 UTC https://padlet.com/rafaelabasurco1/so5nm57vej29s519/wish/1284166931 rafaelabasurco1 https://padlet.com/rafaelabasurco1/so5nm57vej29s519/wish/1284166935 We need growth data to know where we are in the economic cycle. If there's a problem with economic growth (either too little to too much) the government might want to step in to try to solve the problem. There are 2 main ways it can do this which we will look at in detail in a short while in the course - monetary policy and fiscal policy. 

Q1 Basically, when economic growth is weak the government might want to try to increase it. Think back to the injections into the circular flow of income. Which one(s) might it try to influence? 

Q2 When economic growth is too strong the government might want to try to slow it down. Why?

Q3 Think about the leakages from the circular flow of income. Which leakage might it try to influence?]]> 2021-03-08 19:44:36 UTC https://padlet.com/rafaelabasurco1/so5nm57vej29s519/wish/1284166935 rafaelabasurco1 https://padlet.com/rafaelabasurco1/so5nm57vej29s519/wish/1284166941 1. What does the graph below show about the correlation between rising personal income and rising personal happiness, according to Justin Wolfers' research in the US? 

This shows a direct correlation between the rising of personal income and the rising of personal happiness. This shows that the increase in one consequently increases the other.

2. What is the assumption behind an assertion, that the statistics above infer that all a country needs to do to have happier citizens is to increase economic growth/national income?

That its not necessarily true that increasing the citizens income will have a direct effect on their happiness. 

3. Is this always realistic? Why not? How does the evidence in the following video help to build a counter claim/evaluation to this argument here?

This is not always realistic, it depends on the circumstances the whole country finds itself in. Nevertheless, with the evidence from the video below we can identify that in this particular case it happened to be that the rise in income rose the happiness of its citizens]]> 2021-03-08 19:44:36 UTC https://padlet.com/rafaelabasurco1/so5nm57vej29s519/wish/1284166941 INDIVIDUAL TASK write 1 SHORT PARAGRAPH highlighting the main benefits of measuring economic growth. rafaelabasurco1 https://padlet.com/rafaelabasurco1/so5nm57vej29s519/wish/1284166945 2021-03-08 19:44:36 UTC https://padlet.com/rafaelabasurco1/so5nm57vej29s519/wish/1284166945 What do we/you hope from life? rafaelabasurco1 https://padlet.com/rafaelabasurco1/so5nm57vej29s519/wish/1284166949 ..]]> 2021-03-08 19:44:36 UTC https://padlet.com/rafaelabasurco1/so5nm57vej29s519/wish/1284166949 Growth can help development rafaelabasurco1 https://padlet.com/rafaelabasurco1/so5nm57vej29s519/wish/1284166951
  • According to Denise Goulet, there are 3 things necessary for development (being arguably a ‘’better’ life for all) which are…..* 
    • Life sustenance (basics need for survival like food, etc) Self-esteem (self-love), Freedom (make choices) 
    1. Growth might help each one..how? 
    To expand our freedom in order to enjoy more things in life. 
    *Amartya Sen expanded on the concept of ''development as freedom'' in his award winning book.
    ]]>     2021-03-08 19:44:36 UTC https://padlet.com/rafaelabasurco1/so5nm57vej29s519/wish/1284166951     rafaelabasurco1 https://padlet.com/rafaelabasurco1/so5nm57vej29s519/wish/1284166953 Amartya Sen (Honorary Fellow, All Soul's College, Oxford University)]]> 2021-03-08 19:44:36 UTC https://padlet.com/rafaelabasurco1/so5nm57vej29s519/wish/1284166953 rafaelabasurco1 https://padlet.com/rafaelabasurco1/so5nm57vej29s519/wish/1284166956 2021-03-08 19:44:36 UTC https://padlet.com/rafaelabasurco1/so5nm57vej29s519/wish/1284166956 Now go to gapminder.org (or another relevance source) and research 3 things about China rafaelabasurco1 https://padlet.com/rafaelabasurco1/so5nm57vej29s519/wish/1284166957
    1. The % change in economic growth there from 1990 to 2019
    1990: GDP per capita - 1,420
    2019: GDP per capita - 16.1K

    2. The change in life expectancy
    1990:  68.7
    2019:  77.5

    3. The change in secondary school enrollment.
    1990: 69.4 %
    2007: 91.7 %
    Do any positive correlations exist? Explain these. Might you draw any inferences from this in relation to the link between growth and development?

    Yes as more the economy grew (which is reasonable as the are more people) development increases as it is proven on the school enrollment ]]>     2021-03-08 19:44:36 UTC https://padlet.com/rafaelabasurco1/so5nm57vej29s519/wish/1284166957     What comparisons can the growth data below help us show? rafaelabasurco1 https://padlet.com/rafaelabasurco1/so5nm57vej29s519/wish/1284166961 growth data can a) help with comparisons about people's lives OVER [      ] AND [   ] and b) show that over the very long term economic growth in the past has dramatically improved [                ]]]> 2021-03-08 19:44:36 UTC https://padlet.com/rafaelabasurco1/so5nm57vej29s519/wish/1284166961 rafaelabasurco1 https://padlet.com/rafaelabasurco1/so5nm57vej29s519/wish/1284166962 2021-03-08 19:44:36 UTC https://padlet.com/rafaelabasurco1/so5nm57vej29s519/wish/1284166962 Question relevant to Exhibit D rafaelabasurco1 https://padlet.com/rafaelabasurco1/so5nm57vej29s519/wish/1284166964 Would you rather:
    A. Live in 1900 and make $70,000 a year.
    or
    B. Live today and make $70,000 a year.
    If you choose A., you get to be super rich; your income is roughly equal to $700,000 today. You get a mansion, servants, the whole deal.
    Choice B. means you aren't rich, but you're not poor — and you don't have to worry about being crippled by polio, or killed when a cut on your foot gets infected. You also get cable TV and air conditioning.
    ]]>     2021-03-08 19:44:36 UTC https://padlet.com/rafaelabasurco1/so5nm57vej29s519/wish/1284166964     rafaelabasurco1 https://padlet.com/rafaelabasurco1/so5nm57vej29s519/wish/1284166966 2021-03-08 19:44:36 UTC https://padlet.com/rafaelabasurco1/so5nm57vej29s519/wish/1284166966 Economic growth in South Korea rafaelabasurco1 https://padlet.com/rafaelabasurco1/so5nm57vej29s519/wish/1284166967 2021-03-08 19:44:36 UTC https://padlet.com/rafaelabasurco1/so5nm57vej29s519/wish/1284166967