Asynchronous Assignment Questions for Week 5 Part I (3 points) Using the BEA and/or FRED websites find the following data for the U.S. economy: RGDP in the first quarter of 2022 = ? RGDP in the last quarter of 2021 = ? RGDP growth rate from Q4 2021 to Q1 2022 = ? Note: Use the universal growth rate formula on slide 44 of the Summarized Lecture Notes for Module 3. Part II (2 points) Looking at the table on slide 46 of Module 3 Summarized Lecture Notes, find how long, approximately, it will take for the level of RGDP to double if: 1) the U.S. RGDP continues to grow at 2% on average = ? 2) the U.S. RGDP continues to grow at 3% on average = ? 3) Germany's RGDP grows at 5% on average = ? 4) China's RGDP continues to grow at 10% on average = ? What do the calculations tell us about the different economic growth patterns between the U.S. and China in the last 3 decades and moving forward? -Part III After navigating the NBER website (see slides 24 and 53-54 in the Module 3 Summarized Lecture Notes) find the peak, the trough, and the number of months from peak to trough (the contraction stage of the business cycle) of the last two recessions. What is the main difference when comparing the length of contraction between the last two recessions? What could this tell us about the state of our economy during the last two recessions? Part IV: Note that the greatest benefit of working on this part is that it will help you complete the discussion board assignment: "Economic Growth Determinants", which is due July 3. Starting to work on this assignment early will likely help you earn full points on it. What are the main factors contributing to economic growth (i.e., the growth of real GDP)? Focus on at least 2 of the following factors: 1. the role of saving and investment in physical capital 2. the role of saving and investment in human capital, 3. ideas, innovations, and technological improvements, 4. institutions, and other factors, such as geography and culture. In your answer, try to elaborate on both historical and more recent trends in the economic performance/growth of not only the U.S., but also worldwide, and the key factors contributing to their economic growth. In your answer, make sure to reference the videos below: 1. MR University: Growth Miracles and Growth Disasters 2. MR University: Puzzle of Growth: Rich Countries and Poor Countries 3. MR University: Alex Tabarrok on How Ideas Trump Crises