Excel File Edit View Insert Format Tools Data Window Help 55% Wed 7:35 pm Q DE Australian GDP Data (1) Q . Search Sheet "+ Share Home Insert Page Layout Formulas Data Review View _ AutoSum . Cut 14#1 Calibri 12 A- A So Wrap Text General Ag. Copy Fill Paste A Merge & Center $ ~ % ) 70 .00 Conditional Format Cell Insert Delete Format Sort & Format Formatting as Table Styles Clear Filter Office Update To keep up-to-date with security updates, fixes, and improvements, choose Check for Updates Check for Updates L47 + X V fx C D E F G H I J K L M N O P Q R S T A B Real gross domestic Gross domestic product: income: Chain Current prices ; volume measures ; $ Millions $ Millions Seasonally Adjusted Seasonally Adjusted DERIVED DERIVED Quarter Quarter 3 BOX JAMAWN Sep-1959 Sep-1959 Dec-2023 Dec-2023 258 258 A2304418T A2304410X Mar-2015 408390 462285 Jun-2015 407465 460121 Sep-2015 412095 462481 Dec-2015 412371 461436 Mar-2016 414883 463623 Jun-2016 419659 469495 Sep-2016 425186 473887 Dec-2016 439281 490268 Mar-2017 447473 495798 21 Jun-2017 447235 494123 22 Sep-2017 452803 498712 Dec-2017 455645 500766 24 Mar-2018 464857 507732 25 Jun-2018 470891 511961 Sheet1 Sheet2 + - O + 117% Ready MAY 15 X W WSJ A55% Wed 7:35 pm Q DE Excel File Edit View Insert Format Tools Data Window Help Australian GDP Data (1) Q . Search Sheet "+ Share Home Insert Page Layout Formulas Data Review View 14#1 _ AutoSum . Cut Ag. Calibri 12 A- A So Wrap Text General Fill Copy |Merge & Center $ ~ % ) 70 .00 Conditional Format Cell Insert Delete Format Sort & Paste A Clear Format Formatting as Table Styles Filter Check for Updates Office Update To keep up-to-date with security updates, fixes, and improvements, choose Check for Updates L47 + XVfx B C D E F G H I J K L M N O P Q R S A 507732 24 Mar-2018 464857 25 Jun-2018 470891 511961 26 Sep-2018 477963 515595 27 Dec-201 483122 519504 28 Mar-2019 490369 524392 29 Jun-2019 497677 529950 30 Sep-2019 504456 534765 Dec-2019 503695 531257 Mar-2020 506317 531448 Jun-2020 468773 494995 Sep-2020 489541 515104 Dec-2020 512276 536987 Mar-2021 534518 558266 Jun-2021 552353 573442 Sep-2021 549822 562803 Dec-2021 568474 575210 Mar-2022 594996 589902 Jun-2022 622231 605306 Sep-2022 627597 599058 Dec-2022 637241 598863 Mar-2023 651596 607446 Jun-2023 646972 598436 Sep-2023 656059 596848 47 Dec-2023 665426 601736 48 49 Note: The data for are extracted from ABS Cat No 5206.0 50 51 Sheet1 Sheet2 + - O + 117% Ready MAY 15 A . .. X W WSJ4 Trang chu - Google Drive X BEA111Assignment2_Macroeco X 02L Australian GDP Data - BEA111 | x + C A docs.google.com/document/d/15zM7770$7gtit6jD-mcPIOCkwTuhmOXv/edit GOAID : BEA111Assignment2_Macroeconomics .DOCX * & & Chia Se D Tep Chinh sua Xem Chen Dinh dang Cong cu Tro giup Q 5 @ 4 5 100% - Van ban th... Carlito - 11 + B ZU A C + 13 " I BX ed 31 2 80 1 14 1 12 1 13, 1 14, 135 1 16 1 17 148, 1 19 a. The attached Excel file, GDP Data, provides the Australian Nominal and Real Quarterly GDP figures for Mar 2015 to Dec 2023 (values are in millions of dollars). Duong vien Use the GDP data to answer the following questions. Assignment 2 (i) Create a table like Table 1.1 and calculate the four measures from March 2016 to December 2023. Instructions Real GDP Instructions (continued) Nominal GDP Nominal GDP Real GDP Annual Growth Quarterly Annual Quarterly Assignment 2 Table 1.1 Rate (%) Growth Rate Growth Rate Growth Rate (%) (%) (% Question 1 - (Total: 35 Marks) Question 2 - (Total: 30 Marks) Please take note to measure the + Question 3 - (Total: 65 Marks) quarterly growth rate: you need to take the difference from one quarter to another. For Question 4 - (Total: 25 Marks) example, the quarterly growth rate for March 2016 = (Mar 2016 value - Dec 2015 value) X 100/Dec 2015 value Question 5 - (Total: 45 Marks) annual growth rate, you need to take the difference from one year to another. For example, the annual growth rate for March 2016 = + [Mar 2016 value - Mar 2015 value) X 100/Mar 2015 value Why does the real GDP growth rate differ from the nominal growth rate? Referring to the real GDP growth rate (quarterly and annual) that you reported in the above table, what can you say about the Australian economic outlook during the pre-, during and post-COVID-19 era? Where will you place the Australian economy on the business cycle for each of these periods? (Total Marks: 15) (ii) Create a table like Table 1.2 and calculate the GDP deflator and the quarterly and annual changes in the price level from March 2016 to December 2023. The formula for quarterly and annual change is similar to the one described in (i) Table 1.2 GDP Deflator Percentage Percentage 9 40 Change Change (Quarterly) (Annual)4 Trang chu - Google Drive X BEA111Assignment2_Macroeco X 02L Australian GDP Data - BEA111 | x + C A docs.google.com/document/d/15zM7770$7gtit6jD-mcPIOCkwTuhmOXv/edit GOAID : BEA111Assignment2_Macroeconomics .DOCX * & & Chia Se D Tep Chinh sua Xem Chen Dinh dang Cong cu Tro giup Q 5 @ 4 5 100% - Van ban th... Carlito - 11 + B ZU A C + M B 13 " BLIX ed 31 (Total Marks: 15) (ii) Create a table like Table 1.2 and calculate the GDP deflator and the quarterly and annual changes Duong vien in the price level from March 2016 to December 2023. The formula for quarterly and annual change is similar to the one described in (i) Assignment 2 Instructions Table 1.2 GDP Deflator Percentage Percentage Change Change Instructions (continued) (Quarterly) (Annual) Assignment 2 Question 1 - (Total: 35 Marks) What is a GDP deflator? Which period saw the lowest and highest percentage increase in the price level as measured by the GDP deflator? Explain your answer. (Hint: compare the quarterly Question 2 - (Total: 30 Marks) measure and annual measure). (Total Marks: 10) + Question 3 - (Total: 65 Marks) Question 4 - (Total: 25 Marks) b. The GDP is commonly used to measure a country's economic progress and standard of living. Read the article A Brief History of GDP - and what could come next and explain why GDP has its limitations and Question 5 - (Total: 45 Marks) what nations should concentrate on to go beyond the GDP measures to sustain their population's well- being and welfare. (Total Marks: 10) UNIVERSITY of TASMANIA BEA111 Introduction to Markets and the Economy - Assignment Question 2 - (Total: 30 Marks) a. The table below provides the March 2023 and 2024 seasonally adjusted labour market data for Australia and Tasmania, but some information is missing