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a. Calculate the GDP for both countries.
b. Discuss the usefulness of these data in deciding which, if any, of
these two countries is likely to be experiencing an economic
recession.
Obtain Australia`s real GDP and CPI data from 1980 to 2015. Calculate
the annual growth rates of real GDP and inflation and graph both series
together. Is/are there some interesting or salient relationship(s) between
those two series? Provide and discuss plausible economic explanation(s),
including change in economic events and change in government policy,
for the relationship(s) you identified.
Obtain Australia`s real GDP and unemployment data from 1980 to 2015.
Calculate the growth rates of real GDP and unemployment and graph both
series together. Is/are there some interesting or salient relationship(s)
between those two series? Provide and discuss plausible economic
explanation(s), including change in economic events and change in
government policy, for the relationship(s) you identified.
