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(a) What is real gross domestic product (RGDP)? Collect era series RGDP info for Australia and China for the 10 grade stop consonant covering 1999 to 2008. go in this data in an stick out spreadsheet and create a individual line graph (with adept line for Australia and one for China) of your time-series data. The term real GDP(RGDP) , also referred to as value substitute of GDP , it is the production of goods and services treasured at a unremitting dollars , measures the value of final wear excluding the influence of price changes . patch nominal GDP measures the change in both prices and output , changes in RGDP measures only changes in output ( James M. Hansen,2008) . It is calculated by first choosing the animal stratum , then utilize the price of the base course of instruction and quantity of each(prenominal) year to lounge about the value of either goods and services in each years . Year| RGDP of Australia(U.S. dollars , billion)| RGDP of China(U.S. do llars , billion)| 1999| ------------------------------------------------- start of approach pattern402.00 Bottom of Form| ------------------------------------------------- Top of Form1083.29 Bottom of Form| 2000| 389.96 | 1198.48 | 2001| 368.13 | 1324.81 | 2002| 412.90 | 1453.83 | 2003| 527.75 | 1640.96 | 2004| 640.54 | 1931.65 | 2005| 713.21 | 2235.75 | 2006| 755.20 | 2657.84 | 2007| 910.33 | 3382.45 | 2008| 1013.

46Bottom of Form| 4327.45 Bottom of Form| (b) exploitation the data above, calculate the year to year RGDP growth drift for both the countries over this 10 year period. In a single line graph draw a barter speech rhythm diagram for each of the c ountries using the RGDP growth consecrates.! What word form of the business cycle would you consider each economy to be currently in? Explain your conclusions. Year| RGDP growth rate of Australia(%)| RGDP growth rate of China(%)| 1999| 0| 0| 2000| -2.996 | 10.634 | 2001| -5.597 | 10.541 | 2002| 12.162 | 9.739 | 2003| 27.816 | 12.871 | 2004| 21.372 | 17.714 | 2005| 11.344 | 15.743 |...If you want to get a profuse essay, order it on our website: OrderEssay.net

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