Question
I need typed report of following keeping the word count that is required. along with a graph. its only 410 words please see word count
I need typed report of following keeping the word count that is required. along with a graph. its only 410 words please see word count in front of each
THE OUTPUT GAP AS A TOOL TO INFORM ECONOMIC POLICY IN X [name of the country).
1: Introduction State briefly the purpose of the report. This must include: a statement of the purpose of the report, a definition of the output gap and the structure of the report. [word guidance 40 words]. 2: Economic Growth and the Output Gap - i) Briefly describe the pattern of GDP growth from 2006 to 2020 (use GDP data at constant prices showing the percentage change in GDP on the previous year). Show this data in a Figure (labelled Figure 1). Ii) State whether there appears to be an economic cycle (business cycle) in the pattern of growth. Ii) Explain why it is appropriate to use the GDP growth rate at constant prices and not GDP growth at current prices. (word guidance 50 words) - Calculate the ten-year moving average of percentage change in GDP growth 2006 to 2020. You will need the GDP data for 1997 to 2006 inclusive to calculate the 2006 number). Use this data to plot a second line on Figure 1 to represent trend growth (the ten-year moving average). Briefly describe this pattern of trend growth and the resultant output gap. (word guidance: 20 words) 3: The Inflation Path - Briefly describe the pattern of inflation over the period 2006 to 2020 (use annualised figures). Show the data in a graph (numbered as Figure 2). State two areas of the economy not covered by consumer price inflation. [word guidance 30 words]. 4: The Evolution of Unemployment Draw a third figure, Figure 3 to show the evolution of unemployment 2006 to 2020. Briefly describe the path of unemployment. [Word guidance 20 words]. Comparing Figure 2 with Figure 3, what do these two sets of data suggest about the relationship between inflation and unemployment (often represented in the Phillips Curve). (word guidance: 40 words) 5: An Assessment of the Output Gap as a Policy Tool Write a short, critical review of the concept of the output gap and its measurement for guiding economic policy designed to secure economic growth and full employment without igniting inflation. [word guidance 200 words] 6: Conclusion Based on the arguments in your report, write a brief reasoned statement on the use of the output gap for setting fiscal and monetary policy [word guidance 30 words]
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