https://www.abs.gov.au/statistics/economy/national-accounts/australian-national-accounts-national-income-expenditure-and-product/latest-release#data-downloads

1. Download the data for Nominal and Real GDP for Australia from the Australian Bureau of Statistics website. Using this table will narrow your search: Table 1: Key National Accounts Aggregates. Plot the Nominal GDP for Australia and the Real GDP for Australia. What can you tell us about the real GDP for the 70s and the nominal GDP for the 70s. Why do you observe the difference between the two? Hint: The data for nominal and real GDP will be in Australian Dollars ($ million).

2. There are three kinds of measure for Real GDP. These are labeled "series types" in the excel file corresponding to Table 1. Plot on a single figure the the real GDP for Australia when the series type is "Original" and "Seasonally Adjusted". What is the reason for the difference?

3. Calculate the year-on-year growth rate using the seasonally adjusted RGDP for Australia for the entire sample. Plot these year on year growth in a figure. Do your own research and provide some reasons for the long-term slowdown for Australia. When using evidence to substantiate your arguments, cite the source appropriately. When unsure, it is always best to provide more evidence. (1 point)

4. Calculate the annualized growth rate for the same series. Now plot the year-on-year and annualized growth rate in a same figure. What do you notice about the difference between the two estimates? What are the reasons for the difference?