Macroeconomics, Student Value Edition Plus MyLab Economics with Pearson eText -- Access Card Package (7th Edition)
7th Edition
ISBN: 9780134472669
Author: Blanchard
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Question
Chapter 1, Problem 5QAP
a.
To determine
The number of recession the US economy has undergone since 1960, quarter 2.
b.
To determine
The number of quarters each recession lasted.
c.
To determine
In terms of length and magnitude, two recessions have been the most severe.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Suppose you have an extra six months of data on demands and prices, in addition to the data in the example. These extra data points are (350,84), (385,72), (410,67), (400,62), (330,92), and (480,53). (The price is shown first and then the demand at that price.) After adding these points to the original data, use Excel’s Trendline tool to find the best-fitting linear, power, and exponential trend lines. Then calculate the MAPE for each of these, based on all 18 months of data. Does the power curve still have the smallest MAPE?
U.S. Population The projected population of theUnited States for selected years from 2000 to 2060 isshown in the table below, with the population givenin millions.a. According to this table, what should the U.S. population have been in 2010?b. Create a new table with x representing the numberof years after 2000 and y representing the numberof millions.c. Use a graphing utility to graph the data from thenew table as a scatter plot.
Decomposition of a time series of a souvenir shop's sales is shown in the plot below. Choose all of the following which are true for this time series
Select one or more:
a. The sales peak right before new year's
b. There are quarterly (3-monthly) seasonal cycles in this tie series
c. There is an increase trend in the time series
d. This time series is not stationary
e. There is no seasonality in this time series
Chapter 1 Solutions
Macroeconomics, Student Value Edition Plus MyLab Economics with Pearson eText -- Access Card Package (7th Edition)
Knowledge Booster
Similar questions
- A researcher has a sample of 6 annual observations {94, 104, 102, 99, 111 and 107} for the CPI in country Z for the period 2015 to 2020, and wants to forecast CPI for the years 2021, 2022 and 2023. The researcher uses 3 different forecasting models: A, B and C. Model A is an AR(1) model with no drift and with an estimated autoregressive coefficient = 0.7. Model B is a MA(1) model with no constant and with an estimated MA coefficient = -0.4 (note the minus !). Model C is a random walk model with no drift. The error terms over the 2015-2020 period were estimated to have the values: {3, -1, 2, 4, -3, 1}. a. Compute the 2021, 2022 and 2023 forecasted values for the consumer price index based on the three models. Show the formulas and the details of your calculations, and explain all the related symbols. b. Suppose that the actual values of the CPI over the 2021, 2022 and 2023 were {108, 114, 105}. Calculate the Root mean square error of the three model forecasts over the 2021-2023…arrow_forwardthe logistic equation y=9200/(1+8.03x^-0.121t) models the gross domestic product (GDP) of the united states from 1970 through 1992, where t is the number of years after 1970 and y is in billions of dollars. at what value of t is the growth in GDP increasing most rapidly in what year?arrow_forwardThe population censuses for your city is between 1990 to 2015 are given in the excel sheet given. Estimate the future populations for 2025, and 2050 years by using the following methods and finally compare the results by plotting a graph in excel . Arithmetic, Uniform Percentage, Logistic, Declining Growtharrow_forward
- The following table represents sales data for milk (in hundred liters) sold by a grocery.Do the computations to fill out the table and answer the following questions:1. Using MAD as the criterion, which of the following models would you use for thegiven time series data? Why?A. Naïve approach;B. 5-month SMA model;C. WMA model with weights 0.1, 0.3, and 0.6; orD. ES model with α = 0.5 and a forecast of 3,500 liters in the first month. NOTE: In answering Item 1, mention the whole description of the model; i.e., not just“SMA model”, but “SMA model with n = ...”; not just “WMA model”, but “WMA modelwith weights ...”; not just “ES model”, but “ES model with α = ...”. 2. Interpret the MAD of the most accurate among the forecasting models above.3. Based on your decision in Item 1, what should be the forecast for Month 11?arrow_forwardGross Domestic Product The following table givesthe gross domestic product (the value of all goodsand services, in billions of dollars) of the UnitedStates for selected years from 2000 to 2018.a. Create a scatter plot of the data, with y representing the GDP in billions of dollars and x representing the number of years after 2000.b. Find the linear function that best fits the data, withx equal to the number of years after 2000. Reportthe model with three significant digits.c. Graph the model with the scatter plot to see if theline is an excellent fit for the data.arrow_forwardThe circulation C of a certain magazine as a function of time t is given by the formula c=5.2/0.1+0.3t Here C is measured in thousands and t is measured in years since the beginning of 2006 when the magazine was started. Find when the circulation of the magazines will reach 34.83 thousand. Write the equation you are solving.arrow_forward
- Indicate if the following data sets represent time-series, cross section or panel data.a- Number of the registered students of the North Cyprus Universities between the years 1995 and 2016. ___________________b- Inflation rate of the EU members in 2020. ___________________c- FDI to Turkey between the years 1990 and 2016. ___________________d- Employment rate in Zimbabwe over the months from 2018 January to 2020 December. _________________2- Give the number of observations of the following data sets ?a- Inflation rate of the EU members in 2020. ___________________b- FDI to Turkey over the years from 1990 to 2016. ___________________c- Employment rate in Zimbabwe over the months from 2018 January to 2020 December. _________________arrow_forwardThe following gives the number of accidents that occurred on Florida State Highway 101 during the last 4 months: Jan Feb Mar AprMonth 1 2 3 4Number of Accidents 30 40 70 105 Using the least-squares regression method, the trend equation for forecasting is (round your responses to two decimal places): y = ? + ?xarrow_forwardIndia’s GDP per capita increased from $310 in 1991 to $1,489 in 2012. (i) Calculate the average annual rate of growth of the Indian economy during this period using the arithmetic average. (ii) Calculate the geometric average annual growth rate of India during this period. Explain why the number you find in (ii) differs from the result obtained in (i).arrow_forward
- Define and briefly explain the nature and structure of the following terms. Cross sectional data and time series data.arrow_forwardWhy is base 10 logarithm (log) derived as a natural logarithm (1/x2)? Please confirm that derivate of logarithm of base 10 is in this case 1/[x2*log(10)] to modify your answer. Thank youarrow_forwardIt has been widely reported that an increasing number of US women have joined the labor force during the last few decades Directions: Double click on the graph to the night Select Multiple Time Series Data For Y Axis1 select the labor force participation rate of men, and for Y Axis2 select the labor force participation rate of women. After selecting these senes the data will be plotted in the graph According to data shown on the graph on the right, it is clear that the labor force participation rates for men and women in the US OA tended to converge over almost the entire period OB. remained constant during the entire period of 1970-2004 OC. neither tended to converge nor tended to diverge during almost all of the period of 1970-2004 OD. tended to diverge during the entire period This question:(s) possible 4 100- 90- 80- 70- 60- 40- Labor Force Participation Rate - Women 30- Labor Force Participation Rate - Men 20- Labor Force Participation Rate - Women 10- -100 -90 -80 -70 60 -50 --40…arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Managerial Economics: Applications, Strategies an...EconomicsISBN:9781305506381Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. HarrisPublisher:Cengage Learning
Managerial Economics: Applications, Strategies an...
Economics
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:Cengage Learning