annual data for the years 2006 to 2014 showing the rate of growth of real GDP, the inflation rate, and the unemployment rate for Australia, the United States and one Euro-zone economy of your choice. Using the graphing tool in Excel, present three time-series line graphs: one for each economy containing all three variables. Label each axis, give your chart a title and state source of data. Graph 1: The 2006-2014 data of the GDP annual growth rate, the inflation rate, and the unemployment rate of
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consumption, investment, government purchases and net exports. Each of these expenditure types represent the market value of goods and services. The expenditure approach to calculating gross domestic product for the nation, or GDP, uses these four expenditure categories as a measure of economic growth and activity. As these four expenditures go up, the economy expands and businesses of all sizes do better; as they go down, the economy contracts and businesses do worse (Amadeo, 2015). The total payment made
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why or why not. 2. (10 points) Are each of the following included or excluded in this year’s GDP? Explain your reasons for including or excluding each item. If it is included, explain which component of GDP do the different items belong. a. Social security payments received by a retired factory worker. b. Payments for services performed by a dentist. c. The money received by Susan when she sells her economics textbook to a book buyer. d. The monthly allowance a college student receives from home, which
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How is public debt related to economic growth and unemployment? Public debt as a factor will influence economic growth and unemployment. Economic growth is usually presented as gross domestic product (GDP) growth. There are some data including GDP of countries in 2010 and 2009, budget surplus or, total central government debt and unemployment and government debt in U.S.A. Those data have units and definitions below. Definitions: GDP 2010: GDP 2009: Budget surplus/deficit: GovtDebt: Unemployment
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Economic SYNOPSES short essays and reports on the economic issues of the day 2009 I Number 46 Personal Saving and Economic Growth Daniel L. Thornton, Vice President and Economic Adviser he U.S. personal saving rate increased to nearly 5 a simple observation. Nevertheless, the direction has been percent in the second quarter of 2009. Although positive. saving has its advantages, many analysts fear that a That personal saving and growth are likely to be posirising saving rate could hamper
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amount it needs. The way it is calculated is by the required reserves x actual reserves= excess reserves. 5. A money multiplier measures the maximum amount of commercial bank money that can be created by a given unit of central bank money. To calculate, use the equation R/M is greater or equal to RR. In this equation, M is for commercial bank money (loans), R is for reserves (central bank money), and RR is for the reserve ratio. 6. Money provides four key functions for an economy: (1) medium
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Economic Assessment: Outcome 2 &3 [Pick the date] 1a).What is Gross Domestic Product? GDP stands for Gross Domestic Product. GDP is the monetary value of all goods and services produced in a country within a given time period. Any goods or services produced outside the specified country is not included the country’s GDP. GDP is usually used as an indicator of an economy’s health and it also measure a country’s standard of living. GDP is often calculated quarterly and yearly and is used
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AD. | Actual output | Level or real output produced in the economy in a particular year, not to be confused with the trend level of output. The trend level of output is what the economy is capable of producing when working at full capacity. Actual output differs from the trend level of output when there are output gaps. | Aggregate demand (AD) | The total planned spending on real output produced within the economy. | Aggregate supply (AS) | The level of real national output that producers are
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Study Questions 1 (GDP) Name___________________________________ MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) Gross domestic product is a measure of the total value of all A) consumer income in an economy over a period of time. B) capital accumulation in an economy over a period of time. C) sales in an economy over a period of time. D) final goods and services produced in an economy over a period of time. 1) 2) If Nike, an
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Macroeconomics Paper Economics is the study that shows how the people of a specific country, land, or culture deal with scarcity and the decisions to utilize their limited resources. It is the key element that helps to understand the well-being a country, culture, or society. Macroeconomics describes the economy as a whole by focusing on certain issues such as unemployment rate, interest rate, and inflation. This paper will discuss terms relating to macroeconomics and examples of economic activities. The
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