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Principles of Microeconomics-Discusssion

Principles of Microeconomics-Discusssion

Q The Bureau of Economic Analysis provides profit data for various industries in the United States. Go to www.bea.gov Click on Data > by Economic Account > National> Corporate Profits Scroll down and Click on Interactive Data Click on Table 6.16D. Corporate Profits by Industry” 1. Based on the most-recent figures, which of the following categories of industry classifications has the greatest profits: • Financial or nonfinancial • Manufacturing , transportation and warehousing, wholesale trade, or retail trade • Durable goods or nondurable goods • 2.During the past years, which sectors had the largest and smallest percentage increase in profit? 3. Which sectors, if any, experienced losses? 4. What are the implications of the profit changes for expansion or contraction of the particular industries? 5. Reflection – the students also should include a paragraph in the initial response in their own words reflecting on specifically what they learned from the assignment and how they think they could apply what they learned in the workplace.

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The following information has been collected by reviewing the data of Table 6.16D. Corporate Profits by Industry from the Bureau of Economic Analysis website("Table 6.16D. Corporate Profits by Industry", 2019): 1. The greatest profit of the country is being owned by: • Financial or non-financial: In the first quarter of 2019, non-financial (As the non-financial industry has experienced the profit of $1337.1 billion again the $433.9 billion profits of the financial institution). • Manufacturing, transportation, and warehousing, wholesale trade, or retail trade: In the last quarter of 2018, the manufacturing industry experienced almost 5 times profits than that of the transportation and warehousing industry. • Durable goods or nondurable goods: Also, in that same timeline the profit of the non-durable goods is slightly more than that of the durable goods.