Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Statistics Units 2006 2007 2008 2009 2010 2011 2012 2013 GDP per capita, $ 293,436 310,871 316,323 307,111 325,306 338,215 341,016 349,647 constant prices

image text in transcribed

Statistics Units 2006 2007 2008 2009 2010 2011 2012 2013 GDP per capita, $ 293,436 310,871 316,323 307,111 325,306 338,215 341,016 349,647 constant prices Inflation, average % 2 2.035 4.303 0.579 2.293 5.305 4.054 4.338 consumer prices Unemployment rate % 4.79 4.011 3.519 5.262 4.329 3.421 3.286 3.401 Statistics Units 2014 GDP per capita, $ 2015 357,225 362,913 367,399 379,475 2016 2017 2018 2019 2020 2021 X 378,226 359,647 380,584 constant prices Inflation, average % 4.424 2.991 2.409 1.494 2.406 Y 0.251 1.9 consumer prices Unemployment % 3.296 3.315 3.393 3.127 2.815 2.932 Z 5.637 rate a. Find the value of X, Y and Z. b. C. d. e. (3 marks) If the average CPI in 2017 is 94.55, find the average CPI in 2016. Show your calculation. (2 marks) If economic recession is defined as the fall in the real GDP per capita, in which years, Hong Kong experienced economic recession? What caused each of the economic recession? (4 marks) Based on the data collected in this question, determine which recession brought more serious impacts to Hong Kong economy. Provide evidence to support your answer. (4 marks) If the government launches the new round of consumption voucher scheme by giving out $10,000 to all eligible Hong Kong citizens, predict how GDP per capita in 2022, inflation rate in 2022 and unemployment rate in 2022 and the long run economic growth changes in Hong Kong. Briefly explain your answer. (7 marks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Ethical Obligations and Decision Making in Accounting Text and Cases

Authors: Steven Mintz, Roselyn Morris

3rd edition

007786221X, 978-0077862213

More Books

Students also viewed these Accounting questions

Question

Discuss essential concepts of family therapy.

Answered: 1 week ago