Select one or more: a. The trend growth rate over the period was around 2.14 % per annum. b. The graph shows that in 1950 UK GDP per capita was about £8.75. c. When actual output is below trend output the economy is in recession. d. The trend growth rate over the period was 0.9889% per annum.
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- This case study focuses on the Australian economy in 2019, before the COVID-19 pandemic hit. On 4th September 2019, the Australian Bureau of Statistics (ABS) published Real GDP data for the quarter ending June, 2019. (The reporting of GDP always lags by about 2 months as it takes time to collect and compile data). The data showed that the Australian economy recorded a quarterly growth of 0.5%. However, there was a decrease in Real GDP per capita. Furthermore, Real GDP per capita in June 2019 was lower than it was a year before (June 2018). Overall, while Real GDP still increased, the growth was very weak; the weakest on record since March 2001. (Source: Australian Financial Review and The Guardian). Question 4. Given the economic conditions described above, recommend the appropriate monetary policy that the Reserve Bank of Australia (RBA) should implement.Clearly explain why this type of monetary policy is needed. Question 5. Describe in details the steps the RBA must undertake to…This case study focuses on the Australian economy in 2019, before the COVID-19 pandemic hit. On 4th September 2019, the Australian Bureau of Statistics (ABS) published Real GDP data for the quarter ending June, 2019. (The reporting of GDP always lags by about 2 months as it takes time to collect and compile data). The data showed that the Australian economy recorded a quarterly growth of 0.5%. However, there was a decrease in Real GDP per capita. Furthermore, Real GDP per capita in June 2019 was lower than it was a year before (June 2018). Overall, while Real GDP still increased, the growth was very weak; the weakest on record since March 2001. (Source: Australian Financial Review and The Guardian). Required: Question 1. Clearly explain what Real GDP per capita means.Clearly explain why Real GDP per capita decreased whereas there was still growth in Real GDP for the quarter ending June 2019. Question 2. Given the economic conditions described above, predict how the following key…This case study focuses on the Australian economy in 2019, before the COVID-19 pandemic hit. On 4th September 2019, the Australian Bureau of Statistics (ABS) published Real GDP data for the quarter ending June 2019. (The reporting of GDP always lags by about 2 months as it takes time to collect and compile data). The data showed that the Australian economy recorded quarterly growth of 0.5%. However, there was a decrease in Real GDP per capita. Furthermore, Real GDP per capita in June 2019 was lower than it was a year before (June 2018). Overall, while Real GDP still increased, the growth was very weak; the weakest on record since March 2001. (Source: Australian Financial Review and The Guardian). Questions: Question 4. Given the economic conditions described above, recommend the appropriate monetary policy that the Reserve Bank of Australia (RBA) should implement.Clearly explain why this type of monetary policy is needed. Question 5. Describe in detail the steps the RBA must…
- This case study focuses on the Australian economy in 2019, before the COVID-19 pandemic hit. On 4th September 2019, the Australian Bureau of Statistics (ABS) published Real GDP data for the quarter ending June 2019. (The reporting of GDP always lags by about 2 months as it takes time to collect and compile data). The data showed that the Australian economy recorded quarterly growth of 0.5%. However, there was a decrease in Real GDP per capita. Furthermore, Real GDP per capita in June 2019 was lower than it was a year before (June 2018). Overall, while Real GDP still increased, the growth was very weak; the weakest on record since March 2001. (Source: Australian Financial Review and The Guardian). Question: Draw appropriate graph(s) to illustrate the Australian economy in June 2019, considering the previously described economic conditions.This case study focuses on the Australian economy in 2019, before the COVID-19 pandemic hit. On 4th September 2019, the Australian Bureau of Statistics (ABS) published Real GDP data for the quarter ending June 2019. (The reporting of GDP always lags by about 2 months as it takes time to collect and compile data). The data showed that the Australian economy recorded quarterly growth of 0.5%. However, there was a decrease in Real GDP per capita. Furthermore, Real GDP per capita in June 2019 was lower than it was a year before (June 2018). Overall, while Real GDP still increased, the growth was very weak; the weakest on record since March 2001. (Source: Australian Financial Review and The Guardian). Required: Question 1. Clearly explain what Real GDP per capita means.Clearly explain why Real GDP per capita decreased whereas there was still growth in Real GDP for the quarter ending June 2019. Question 2. Given the economic conditions described above, predict how the following key…County A & Country B both recorded an increase in real GDP of 5% per year from 1970 to 2005. During this time, the population of country A grew at 7% per year & the population for Country B grew at 3%. Which of the following is true during this period? a. Per capita GDP was the same for both Country A & Country B b. Per capita GDP decreased for Country B only c. Per capita GDP decreased for both Country A & Country B d. Per capital GDP decreased for Country A only
- In 1960 GDP per capita in the Republic of Korea (constant 2015 US$) was $1027. In 2021 it was $32731. Calculate the growth rate of real GDP per capita in the Republic of Korea over this period. Now suppose that the Republic of Korea grows at the same rate for the 70 years following 2021. What will the Republic of Korea real GDP per capitae in the year 2091? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.The following table shows real GDP per capita for Canada, South Korea, and Uganda between 1970 and 2000. All figures are in 1998 U.S. dollars. The (decade-long) economic growth rate for Canada is shown in the second column. For example, from 1970 to 1980, Canada's GDP grew from $12,717 to $16,731, an increase of $16,731−$12,717$12,717=32%$16,731−$12,717$12,717=32%. Use this method to fill in the growth rates for South Korea and Uganda. Canada South Korea Uganda Year Real GDP per Capita Growth Rate Real GDP per Capita Growth Rate Real GDP per Capita Growth Rate 1970 $12,717 $1,886 $190 1980 $16,731 32% $3,262 $182 1990 $19,540 17% $6,615 $176 2000 $23,156 19% $10,807 $247 Source: Organisation for Economic Cooperation and Development (OECD) 1.Compare the data for Canada and South Korea between 1970 and 1980. During this period, (south korea or canda?) had a higher level of real GDP per capita, while ( South Korea or…The table shows real GDP per capita (RGDPPC) for the fictitious country of Amerucana for a three-year span of time. 2011 2012 2013 Real GDP per capita $14,500 $15,500 $16,590 Enter your answers as percentages rounded to one decimal place. What is the growth rate of real GDP per capita from 2011 to 2012, and also 2012 to 2013?
- How large will Canada’s GDP be in 25 years? The answer depends on what the rate of growth in GDP will be over that 25-year period. A mathematical formula we can use for this calculation is the following: GDP2041 = GDP2016 (1 + g)25 where GDP2041 is the level of GDP in the year 2041, GDP2016 is the level of GDP in the year 2016, and g is the rate of growth in GDP. Assume that GDP in 2016 is $1000 million and assume that the value of g is 0.035 (3.5 percent per year). What will be the value of GDP in 2041? Now suppose that the value of g is 0.040 (4.0 percent per year). What will be the value of GDP in 2041 given this slightly larger rate of growth? What does this result say about the importance of policies that promote even slightly faster rates of growth in GDP?Imagine the GDP per capita of a country doubles every one hundred years. What would the shape of a linear-scale graph and a ratio-scale graph be? Select one or more: a. Linear scale: an upward-sloping curve with increasing slope (called convex shape) Ratio scale: an upward-sloping straight line b. Linear scale: an upward-sloping straight line Ratio scale: a straight horizontal line c. Linear scale: an upward-sloping straight line Ratio scale: an upward-sloping curve with decreasing slope (called concave shape) d. Linear scale: an upward-sloping convex curve Ratio scale: an upward-sloping convex curveAll values are 2005 dollars. Part a) Calculate the growth of GDP/capita in each column. Part b) Calculate the average annual growth in GDP/capita for japan, uk, and USA from 1980 to 2010 using the growth formula in the image. In the growth function, t is the current time period, t-j is the original time period, and g is the annual growth rate. Part c) In parts a and b, are the calculated values for nominal gdp/capita or real gdp/capita. Explain why.
