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Can someone help make the graphs using this link: https://fred.stlouisfed.org/ and use the graphs to answer the following questions? QUESTION 1 10 points Save Answer
Can someone help make the graphs using this link: https://fred.stlouisfed.org/ and use the graphs to answer the following questions?
QUESTION 1 10 points Save Answer How have U.S. productivity (Y/L) and technology (A) grown over time? Use the variables for US productivity, Y/L (OPHNFB) and US technology, A (RTFPNAUSA632NRUG) from the data table above to construct a graph from 1954 to 2022 using LINE 1 and LINE 2. Change the "Units" of both variables to be an index (1954-01-01 = 100). NOTES: Productivity is quarterly and technology is annual, but that's okay. Remember that with indexes, the slope of a variable reflects its growth rate over time. Attach File Browse Local Files QUESTION 2 3 points Save Answer Which US variable has grown fastest since 1954? O Technology (A) O Productivity (Y/L) and technology (A) have grown about the same O Productivity (Y/L) QUESTION 3 3 points Save Answer Which US variable fluctuates more over the business cycle represented by recessions (gray areas) and expansions (white areas) on the graph? O Technology (A) O Productivity (Y/L) and technology (A) fluctuate about the same O Productivity (Y/L)QUESTION 4 3 points Save Answer Macroeconomists think the graph of US productivity and technology can be divided into four distinct time periods defined as: 1954-1973; 1974-1996; 1997-2006; 2007- 2019 (before COVID-19 Pandemic). Which statement best describes the growth of productivity (Y/L) during these periods? O 1974-1996 and 2007-2019 are relatively higher growth periods than the other two O Growth is approximately the same in all four periods O 1954-1973 and 1997-2006 are relatively higher growth periods than the other two QUESTION 5 10 points Save Answer How has technology (A) grown in South Korea (KR) and China (CN) over time? Use the technology (A) variables for the US (RTFPNAUSA632NRUG ), South Korea, KR (RTFPNAKRA632NRUG), and China, CN (RTFPNACNA632NRUG) from the data table above to construct a graph from 1954 to 2019 using LINE 1, LINE 2, and LINE 3. NOTES: The technology variable (A) is an index where 2017=1 for all countries. This does not mean the level of technology is the same in all countries, but the slopes in the technology variables from the 1950s to 2010s reflect different growth rates. Attach File Browse Local Files QUESTION 6 3 points Save Answer Match each country to the best description of their technology growth from 1954 to 2019. United States A. Moderate growth South Korea B. Lowest/slowest growth China C. Highest/fastest growthQUESTION 7 3 points Save Answer Technology (A) growth in China has been quite different from growth in the United States and South Korea. Which statements best describe the difference(s) in Chinese technology? O Over the entire period (1954-2019), Chinese technology basically stayed about the same (roughly 0% growth) O From 1954-1961, Chinese technology declined significantly more than any country during any other time O Since the early 1960s, Chinese technology has grown about the same as US technology O Chinese technology has fluctuated much more year-to-year than US and Korean technology O All of the above QUESTION 8 2 points Save Answer The growth of South Korea's technology (A) relative to US technology (A) is probably best explained by the United States sharing some of its superior technology over time with South Korea though international trade (exports and imports), education, and other methods of technology diffusion. O True O False QUESTION 9 10 points Save Answer Has the standard of living (Y/Pop) in WV been "catching up" to the standard of living (Y/Pop) in NY as predicted by macroeconomists? Use the per capita income (Y/Pop) variables for WV (WVPCP)) and NY state (NYPCP/) from the data table above to construct a graph from 1929 to 2020 using LINE 1 only. Construct the ratio of WV income to NY income (WV divided by NY). NOTE: These variables are in nominal terms (not inflation adjusted real terms) so some part of the change in the ratio may be attributable to changes in the ratio of CPI's in WV and NY. Attach File Browse Local FilesQUESTION 10 3 points Save Answer Match the periods of time to the approximate values of the ratio of WV per capita income to NY state per capita income. Great Depression (1929-1933) A. Between .62-.64 Peak of the Great Inflation (1975-1980) B. About .40 Recent years (2017-2021) C. Between .70-.75 QUESTION 11 3 points Save Answer Which statement best describes the long-run growth of West Virginia's standard of living relative to New York state's from 1929 to about 1980? O West Virginia's standard of living was falling behind New York's O West Virginia's standard of living was catching up to New York's O West Virginia's standard of living was staying about the same as New York's QUESTION 12 3 points Save Answer Which statement best describes the long-run growth of West Virginia's standard of living relative to New York state's from around 1990 to 2021? O West Virginia's standard of living was catching up to New York's O West Virginia's standard of living was falling behind New York's O West Virginia's standard of living was a bit lower than before but staying about the same as New York'sQUESTION 13 3 points Save Answer What recommendations might be appropriate for West Virginia business leaders and public policy makers? O Provide incentives to increase West Virginia's population and labor force participation O Provide incentives to increase West Virginia's factors of production (K/L, H/L, N/L) O Encourage innovation, entrepreneurship, and other factors contributing to West Virginia's technology (A) O None of the above O All of the aboveStep by Step Solution
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