Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Find the Australian Bureau of Statistics ABS 5204.0 Australian System of National Accounts 2019-20 on the internet, on the Data Download tab. , click the

Find the Australian Bureau of Statistics ABS 5204.0 Australian System of National Accounts 2019-20 on the internet, on the "Data Download" tab. , click the link to download the MS Excel spreadsheet for Table 1. Key National Accounts Aggregates. and From Table 1 Collect for Jun-1961 to Jun-2020: GROSS DOMESTIC PRODUCT: Chain volume measures - Percentage changes ; GDP per capita: Chain volume measures - Percentage changes ; These are all real figures as Chain volume measures = real a. Calculate the average of real GDP growth and real GDP per capita growth (in %) from 1961 to 2019 (leave out 2020). Compare the results and explain what the gap or difference between real GDP growth and real GDP per capita growth represents? (10 marks) b. Produce a chart of real GDP growth and real GDP per capita growth (in %) from 1961 to 2020. Ensure it has a title and all axes are labelled and dates display correctly. From 2010 to 2019, how has the Australian economy performed compared to its long-term average real GDP growth and average real GDP per capita growth? (20 marks) c. Produce a table showing the average of real GDP growth, real GDP per capita growth and the difference between the two for each of the five decades 1970s to 2010s (all in %). [1970's=1970 to 1979, 1980's=1981 to 1989 etc.]. In which decade did Australia achieve the greatest economic growth? Compare the performance of Australia's economy in the 2000s to the 2010s. What other factors or world events may have contributed to the performance of Australia's economy in each of the last two decades?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Auditing Cases An Active Learning Approach

Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt

2nd Edition

0130674842, 978-0130674845

Students also viewed these Economics questions