ECO 202 Module 5 Case Assignment and SLP

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ECO 202 Module 5: Economics Growth

ECO 202 Module 5 Case Assignment

1.(a.)  Suppose real GDP was $13.1 trillion in 2013 and $13.3 in 2014, what is the growth rate? (b.) How many years would it take for GDP (gross domestic product) to double (using your answer from part (a)?

2. What are the sources of human capital? Discuss some specific examples.

3. What is the law of diminishing returns? Give an example of what the law of diminishing returns implies.

4. What happens when the government raises taxes and uses revenue to engage in spending?

ECO 202 Module 5 SLP

After clearing several regulatory hurdles, work on the Constitution Pipeline is scheduled to begin in the fall, adding new infrastructure for Cabot to move the natural gas it produces from the Marcellus Shale into profitable markets in New York and New England. Cabot owns a 25 %stake in the project and has an agreement to ship 500 million British thermal units per day on proposed 124-mile pipeline that will be operated by Williams Partners.

After the pipeline comes online in the second half of 2016, Cabot will be able to move its gas more easily to highly populated areas during peak demand times, likely providing the Houston-based company better prices for its products…….

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