Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Australia | FRED | St. Louis Fed - Personal - Microsoft Edge X https://fred.stlouisfed.org/categories/32269?at=gap&ob=pv&od=desc&t= ECONOMIC RESEARCH Economic Research Resources v Switch Products v My Account

image text in transcribedimage text in transcribedimage text in transcribed
image text in transcribedimage text in transcribedimage text in transcribed
Australia | FRED | St. Louis Fed - Personal - Microsoft Edge X https://fred.stlouisfed.org/categories/32269?at=gap&ob=pv&od=desc&t= ECONOMIC RESEARCH Economic Research Resources v Switch Products v My Account v FRED. Your trusted data source Search FRED ... since 1991. ECONOMIC DATA | ST. LOUIS FED Release Calendar FRED Tools . FRED News FRED Blog About FRED Filter by: Australia Concepts View All Categories > International Data > Countries Labor (495) Related Categories Rate (493) Discontinued (407) Bureau of Labor Statistics Bureau of Labor Statistics Pacific Labor Force Industrialized Countries Rim (394) Females (356) Add to Data List Add to Graph Add To Dashboard Sort by Popularity Males (355) Employment (329) Unemployment (310) Interest Rates: 3-Month or 90-Day Rates and Yields: Bank Bills: Total for Australia 15 to 24 Years (215) Percent, Not Seasonally Adjusted 15 years and over (198) O Quarterly Q1 1968 to Q2 2022 (Sep 14) Geography Types O Monthly Jan 1968 to Aug 2022 (Sep 14) O Annual 1968 to 2021 (Sep 14) Nation (2, 154) State (106)Real-Time Data Analysis Exercise Click the following link to view GDP data from FRED.* Then use that data to answer the following questions. (The 'FRED' link will take you directly to the Australian GDP data page on FRED. To answer the questions, you will need to either click on the individual series indicated in the problem or search for the series ID, and then you will need to click on the 'view data' link. There are a lot of data points, so be sure to select the value that corresponds to the date asked for in the exercise.) *Real-time data provided by Federal Reserve Economic Data (FRED), Federal Reserve Bank of St Louis, USA. For this exercise, you will need to enter data from FRED for quarterly current price (nominal) gross domestic product (AUSGDPNQDSMEI). The following table gives the GDP deflator for the second quarter of 2021 and 2022. Using data from FRED, enter the values for quarterly nominal GDP (Series ID: AUSGDPNQDSMEI) for the same two periods (shown as 2021 - 04 -01 and 2022 -04-01 in FRED). Note that the GDP deflator is rounded to one decimal place. (Enter your responses to the nearest dollar.) Period GDP Deflator Value 2021: Q2 117.0 $ 543, 152,000,000 2022: Q2 126.7 $ 609, 133,000,000 Complete the following table by using the data above to compute the real GDP for each period. (Enter your responses to the nearest dollar.) Period Real GDP 2021: Q2 2022: Q2Real-Time Data Analysis Exercise Australian Nominal and Real GDP Click the following link to view GDP data from FRED*. Then use that data to answer 606,002,400,000- the following questions. (The 'FRED' link will take you directly to the Australian GDP 560,742, 100,000- data page on FRED. To answer the questions, you will need to either click on the individual series indicated in the problem or search for the series ID, and then you will 515,481,800,000- need to click on the 'view data' link. There are a lot of data points, so be sure to select 470,221,500,000- the value that corresponds to the date asked for in the exercise.) 424,961,200,000- GDP For this exercise, you will need to enter quarterly data from FRED for nominal GDP 379,700,900,000- (AUSGDPNQDSMEI) and real GDP (AUSGDPRODSMEI). 334,440,600,000- 289,180,300,000- Using the data from FRED, enter the values for the second quarter of 2022 (shown as 2022 -04-01 in FRED) for the following series IDs. 243,920,000,000- 198,659,700,000- (Enter your responses to the nearest dollar.) 153,399,400,000- Q2: 10 Q2: 14 Q2: 18 Q2: 22 Series ID Value Nominal GDP and Real GDP AUSGDPNQDSMEI $ 609, 133,000,000 *Real-time data provided by Federal Reserve Economic Data (FRED), Federal AUSGDPRODSMEI $ 533,092,000,000 (chained $) Reserve Bank of St Louis, USA. Given these values, the GDP deflator for this period is 114.26 . (Enter your response rounded to two decimal places. Use a base index of 100 for the GDP deflator.) The GDP price deflator for the second quarter of 2021 was 105.55. Using this value along with the index computed above gives a year-over-year rate of price inflation of per cent. (Enter your response rounded to one decimal place.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Macroeconomics

Authors: Michael Parkin

10th Edition

013485330X, 978-0134853307

More Books

Students also viewed these Economics questions