hxmzcia

hxmzcia

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hxmzciaUniversity of Cambridge

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History4Law2English7Science2Communications1Information Technology2Algebra2Mathematics1Finance1Economics1Chemistry1
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Planet Economics consists of three countries only; they are A, B and C.  Table 1 provides some macroeconomic data for these countries.

 

Table 1

 

A

B

C

Gross domestic product, GDP

 

6225

 

Consumption, C

4262.5

 

5915

Investment, I

1162.5

 

 

Government spending, G

 

1380

 

Taxes, T

 

 

1352

Exports of goods and services, EX

 

 

 

Imports of goods and services, IM

 

 

 

Private saving, SP

 

 

 

Public saving, SGC

 

0

 

National saving, S

 

 

 

Net unilateral transfer

0

0

0

Current account, CA

 

 

 

Sales of country’s financial assets to foreign residents

 

 

3190

Purchases of foreign financial assets by domestic residents

3115

 

 

Official reserve transactions, ORT

 

 

– 390

Financial account, KA

 

– 550

 

Capital account

 

 

 

Note:  Empty cell only means the data is not given in the question, it does not mean the variable takes a value of zero. 

 

Country-specific information:

Country A:

  • The households consume 55% of the country’s output.
  • A has twin deficits and the size of (each) deficit is 10% of the country’s output.
  • The sales of A’s products to B are worth 1550, while the purchases of B’s products by A are worth 3280.
  • The value of financial assets sold to C’s residents is equal to 1945.

 

Country B:

  • Private consumption represents 60% of GDP.
  • The government of B runs a balanced budget.
  • The central bank of B does not buy or sell any of its official reserves.
  • The amount of financial assets purchased by the residents of B from the residents of A reaches 1810, while the amount of financial assets purchased from the residents of C is 1853.

 

Country C:

  • Public savings and private savings are equal to 169 and 1183 respectively.
  • C sells 1370 worth of final products to A.
  • The level of C’s products purchased by B is 1165.
  • Residents of C receive (net) asset transfers of 255 and 225 from residents of A and B respectively. No market transactions are involved in these transfers. 

 

Other information:

  • The central banks of all three countries do not make any transaction with the private sector. In other words, the central banks only make transactions with other countries’ monetary authorities.

 

Complete the above table.  You are not required to provide explanation to your answer for this question; however, you should understand the logic behind the entry of each cell so that you can work on similar questions in the future.

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2. Advance Your Career

Language skills can be a significant competitive advantage that sets you apart from your monolingual peers.

They are among the top eight skills required of all occupations- no matter your sector or skill level-and the demand for bilingual professionals is rising exponentially. In fact, between 2010 and 2015, the number of U.S. job postings specifically geared toward bilingual candidates more than doubled.

Write your reflection or opinion. What do you think about what you read?

D. Read independently and work with a partner to write a reflection or opinion about what you read. Share your answer with the class.

The many cognitive benefits of learning languages are undeniable.

People who speak more than one language have improved memory, problem-solving and critical-thinking skills, enhanced concentration, ability to multitask, and better listening skills.

What do you think about the benefits? Would you like to take advantage of learning a new language?

 

E. Read independently and work with a partner to write a reflection or opinion about what you read. Share your answer with the class.

4. Deepen Your Connection to Other Cultures

Language is the most direct connection to other cultures. Being able to communicate in another language exposes us to and fosters an appreciation for the traditions, religions, arts, and history of the people associated with that language. Greater understanding, in turn, promotes greater tolerance, empathy, and acceptance of others--with studies showing that children who have studied another language are more open toward and express more positive attitudes toward the culture associated with that language.

Write your reflection or opinion. What do you think about what you read?

F. Read independently and work with a partner to write a reflection or opinion about what you read. Share your answer with the class.

5. See the World

Traveling as a speaker of the local language can revolutionize a trip abroad. While monolingual travelers are capable of visiting the same places, travelers who know more than one language are more easily able to navigate outside the tourist bubble and to connect and interact with the place and its people in a way that is often inaccessible to those without the language. Learning a second language also opens additional doors to opportunities for studying or working abroad.

Write your reflection or opinion. What do you think about what you read?

 

 

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