Hi Team,

Are you able to assist with the below question?

Answer the following utilising the information contained in the table below from ABS (2021). Figure 1: International comparisons of GDP growth to March quarter 2021, volume measures, seasonally adjusted Change since Dec-19 (%) Change since Dec-20 (%) Australia D.8 1.8 South Korea 0.4 1.6 United States 0.9 1.6 Canada -1.7 1.6 Japan -2.3 -1.3 France 4.7 D. 1 European Union -5.0 -0.4 Germany -5.0 1.8 Italy -6.9 -0.4 United Kingdom 8.7 -1.5 a. International GDP data obtained from https://stats.oecd.org/ on 28 May 2021. Source: Australian Bureau of Statistics, International economic comparisons after a year of the pandemic 2/06/2021 (a) Explain the nature of the data reported in the table being sure to include in your answer an explanation of the terms GDP, volume measures, seasonally adjusted, change since Dec-19 and change since Dec-20. (Hint: Some of the concepts are not covered in the text and you will need to undertake your own research to find an answer.) (b) What is the data indicating regarding the performance of the economy in each of the countries covered in the table relative to their experience during the period 2017-2019? (Hints: Data on annual real GDP growth rates for each country (except for the EU) for the period 2017-2019 can be found in Central Intelligence Agency (2021). In preparing your answer you may find the material in A Simple Model (2021) useful