Suppose you have quarterly data on new housing starts, interest rates, and real per capita income.Specify a model for housing starts that accounts for possible trends and seasonality in the variables.
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Suppose you have quarterly data on new housing starts, interest rates, and real per capita income.
Specify a model for housing starts that accounts for possible trends and seasonality in the variables.
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- Define the term cost-of-living index?Which of the following is not a continuous variable? Time to complete this question. Interest rate. Distance between your location and the University of Manitoba campus. ONumber of stars in an Amazon review.A simple economy produces only lumber, granola bars, and computers. Annual production of these goods for 3 years are shown below along with their prices. If 2020 is the base year, the value of 2021 production in constant dollars is $ Don't include $ or any commas or spaces in your answer. 2019 2020 2021 Production of lumber (units) Price of lumber ($ per unit) Production of granola bars (units) Price of granola bars ($ per unit) Production of computers (units) Price of computers ($ per unit) 100 120 130 100 120 125 500 600 650 2.50 50 40 50 300 320 350 2.
- The accompanying table shows the average annual wage for a country, in thousands of dollars, for selected years from 1970 and projected to 2040. a. Find an exponential function that models these data, with x equal to the number of years after 1970 and y equal to the average annual wage in thousands of dollars. b. Graph the model and the data on the same axes. c. What does the model predict that the average annual wage will be in 2030? Is this interpolation or extrapolation? d. When does the model predict that the average annual wage will reach $230,000? a. The equation of an exponential function that models the data is y=. (Use integers or decimals for any numbers in the expression. Round to three decimal places as needed.) b. Graph the model on the same axis as the data. Choose the correct graph below. All graphs are shown in a [0,70,10] by [0,250,50] viewing window. OA. OB. c. According to the model, the average annual wage in 2030 will be $ thousand. (Round to one decimal place as…What are the differences among models that forecast the level, trend, and seasonality?For this hypothetical economy below (please note that all prices for 2012 have been normalized to 100): Prices (base year 2012 = 100.0; normalized) Volume (units) Final good/service Time = 2015 Time =2016 Time = 2017 Time=2012 Time = 2015 Time =2016 Time = 2017 Groceries 125.0 131.3 133.9 92 100 105 110 Housing 155.0 165.9 165.9 46 50 55 60 155.0 132.5 46 50 90 Transport Medical care 147.3 75 250.0 287.5 316.3 92 100 95 95 a) Calculate nominal GDP (NGDP) and real GDP (RGDP) for 2015, 2016 and 2017 using data in the above table. Note that the base year is 2012. b) What are the annualized (yearly) growth rates of NGDP and RGDP in each year (2015, 2016 and 2017)? c) Calculate GDP deflator for 2015, 2016 and 2016. What is the annualized (yearly) rate of inflation in each year (2015, 2016 and 2017) using the GDP deflator?
- edian household incomes tend to increase from one year to the next. In 2019, the median household income was $64,101 in Madison, Wisconsin, and $42,087 in Milwaukee. In 2020, the median household incomes were $66,847 in Madison and $44,192 in Milwaukee. Find the absolute and relative changes for median household incomes in Madison and Milwaukee from 2019 to 2020. Give any percentage values rounded to the nearest tenth of a percent and dollar values to the nearest whole dollar amount. (a) From 2019 to 2020, the absolute change for median household income in Madison was$ . (b) From 2019 to 2020, the relative change for median household income in Madison was %. (c) From 2019 to 2020, the absolute change for median household income in Milwaukee was$ . (d) From 2019 to 2020, the relative change for median household income in Milwaukee was %. Use the "Add Work" button to show your work and thought process for these calculations. You may typeGeorge Kyparisis makes bowling balls in his Miami plant. With recent increases in his costs, he has a newfound interest in efficiency. George is interested in determining the productivity of his organization. He would like to know if his organization is maintaining the manufacturing average of a 3% increase in productivity. He has the following data representing a month from last year and an equivalent month this year: Resin Productivity Change if necessary). The productivity change for each of the inputs (Labor, Resin, Capital, and Energy) is: Labor Productivity Change = if necessary). = Units Produced Labor (hours) Resin (pounds) Capital Invested ($) Energy (BTU) Last Year 1,200 300 60 10,000 2,900 Energy Productivity Change = if necessary). Now 1,200 250 46 11,000 2,750 % (enter your response as a percentage rounded to two decimal places and include a minus sign % (enter your response as a percentage rounded to two decimal places and include a minus sign Capital Invested…Assume that the average or mean monthly household consumption expenditure for Malaysia rose from RM3,578 in 2018 to RM4,033 in 2020, growing 6% per annum at nominal value, according to the statistics department. However, in terms of real value — which refers to the constant price using the Consumer Price Index with the base year 2014 as the deflator — annual growth rate is 3.9% for the same period, mentioned on its Household Expenditure Survey Report 2020. b) i. Use the aggregate expenditures model to show how government fiscal policy could eliminate either a recessionary expenditure gap or an inflationary expenditure gap. ii. Explain how equal-size increases in G and T could eliminate a recessionary gap and how equal-size decreases in G and T could eliminate an inflationary gap.
- Next, consider an economy with these equations: C = 2060 + 0.85Yd, | = 1420, G = 1220 - 0.02Y, X = 1480, M = 1525, and T = -1198 + 0.17YAssume that the average or mean monthly household consumption expenditure for Malaysia rose from RM3,578 in 2018 to RM4,033 in 2020, growing 6% per annum at nominal value, according to the statistics department. However, in terms of real value — which refers to the constant price using the Consumer Price Index with the base year 2014 as the deflator — annual growth rate is 3.9% for the same period, mentioned on its Household Expenditure Survey Report 2020. a) Suppose that consumer spending initially rises by RM5 billion for every 1 percent rise in household wealth and that investment spending initially rises by RM20 billion for every 1 percentage point fall in the real interest rate. Also, assume that the economy’s multiplier is 4. i. If household wealth falls by 5 percent because of declining house values, and the real interest rate falls by two percentage points, in what direction and by how much will the aggregate demand curve initially shift at each price level? ii. In what…This case study focuses on the Australian economy in 2019, before the COVID-19 pandemic hit. On 4th September 2019, the Australian Bureau of Statistics (ABS) published Real GDP data for the quarter ending June, 2019. (The reporting of GDP always lags by about 2 months as it takes time to collect and compile data). The data showed that the Australian economy recorded a quarterly growth of 0.5%. However, there was a decrease in Real GDP per capita. Furthermore, Real GDP per capita in June 2019 was lower than it was a year before (June 2018). Overall, while Real GDP still increased, the growth was very weak; the weakest on record since March 2001. (Source: Australian Financial Review and The Guardian). Required: Question 1. Clearly explain what Real GDP per capita means.Clearly explain why Real GDP per capita decreased whereas there was still growth in Real GDP for the quarter ending June 2019. Question 2. Given the economic conditions described above, predict how the following key…