PS1 solutions

# PS1 solutions - Department of Economics Fall 2010...

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Unformatted text preview: Department of Economics Fall 2010 University of California, Berkeley Professor Olney Problem Set #1 Page 1 of 7 Suggested Solutions for Problem Set #1 1. (4 points total; ½ point each) Use the Economic Report of the President 2010 (ERP) at http://www.gpoaccess.gov/eop/tables10.html. Use a program such as Excel or openoffice.org (free download; MS Office substitute) to answer the questions. a. Use Table B2 to find the annual real values of consumption (C), investment (I), government purchases (G), exports (GX) and imports (IM) for 1960 - 2009. Notice that ERP refers to G as “Government consumption expenditures and gross investment.” Also notice that half the table is in “B2p1“ and the other half is in “B2p2.” Manipulate the spreadsheet so that you print out on one page the annual real values for just GDP, C, I, G, GX, and IM for 1960 to 2009. Print out the annual data for 1960 to 2009, not the quarterly data also. Just print out the column with the year and those six columns; don’t print out the entirety of ERP Table B2. TABLE B–2. Real gross domestic product, 1960–2009 [Billions of chained (2005) dollars, except as noted; quarterly data at seasonally adjusted annual rates] Year or quarter Gross domestic product Personal consumption expenditures Gross private domestic investment Exports Imports Government purchases 1960. 2,830.9 1,784.4 296.5 98.5 114.5 871.0 1961. 2,896.9 1,821.2 294.6 99.0 113.8 914.8 1962. 3,072.4 1,911.2 332.0 104.0 126.7 971.1 1963. 3,206.7 1,989.9 354.3 111.5 130.1 996.1 1964. 3,392.3 2,108.4 383.5 124.6 137.0 1,018.0 1965. 3,610.1 2,241.8 437.3 128.1 151.6 1,048.7 1966. 3,845.3 2,369.0 475.8 137.0 174.1 1,141.1 1967. 3,942.5 2,440.0 454.1 140.1 186.8 1,228.7 1968. 4,133.4 2,580.7 480.5 151.1 214.7 1,267.2 1969. 4,261.8 2,677.4 508.5 158.4 226.9 1,264.3 1970. 4,269.9 2,740.2 475.1 175.5 236.6 1,233.7 1971. 4,413.3 2,844.6 529.3 178.4 249.2 1,206.9 1972. 4,647.7 3,019.5 591.9 191.8 277.2 1,198.1 1973. 4,917.0 3,169.1 661.3 228.0 290.1 1,193.9 1974. 4,889.9 3,142.8 612.6 246.0 283.5 1,224.0 1975. 4,879.5 3,214.1 504.1 244.5 252.0 1,251.6 1976. 5,141.3 3,393.1 605.9 255.1 301.3 1,257.2 1977. 5,377.7 3,535.9 697.4 261.3 334.2 1,271.0 1978. 5,677.6 3,691.8 781.5 288.8 363.2 1,308.4 1979. 5,855.0 3,779.5 806.4 317.5 369.2 1,332.8 1980. 5,839.0 3,766.2 717.9 351.7 344.7 1,358.8 1981. 5,987.2 3,823.3 782.4 356.0 353.8 1,371.2 1982. 5,870.9 3,876.7 672.8 328.8 349.3 1,395.3 1983. 6,136.2 4,098.3 735.5 320.3 393.4 1,446.3 1984. 6,577.1 4,315.6 952.1 346.4 489.1 1,494.9 1985. 6,849.3 4,540.4 943.3 357.0 520.9 1,599.0 1986. 7,086.5 4,724.5 936.9 384.4 565.4 1,696.2 1987. 7,313.3 4,870.3 965.7 425.7 598.9 1,737.1 1988. 7,613.9 5,066.6 988.5 493.9 622.4 1,758.9 1989. 7,885.9 5,209.9 1,028.1 550.6 649.8 1,806.8 Department of Economics Fall 2010 University of California, Berkeley Professor Olney Problem Set #1 Page 2 of 7 TABLE B–2. Real gross domestic product, 1960–2009 [Billions of chained (2005) dollars, except as noted; quarterly data at seasonally adjusted annual rates]...
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PS1 solutions - Department of Economics Fall 2010...

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