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Unformatted text preview: Econ 154b Yale University Spring 2005 Prof. Tony Smith HOMEWORK #1 This homework assignment is due at the beginning of lecture on Monday, January 24. 1. The Federal Reserve Bank of St. Louis maintains a database of macroeconomic vari- ables for the United States at: http://research.stlouisfed.org/fred2/ . Using data obtained from this web site, calculate the four main expenditure components of real GDP as a fraction of real GDP. Go back as many years as you can (some series go farther back in time than others). Use seasonally adjusted quarterly series expressed in chain-weighted 2000 dollars. (If you need to choose between a decimal 1 series and a decimal 3 series, pick decimal 1.) In addition, calculate national saving as a fraction of real GDP. (National saving is not one of the series in the database, but you can compute it from other series using the definition of national saving.) Graph the five fractions on a single graph as a function of time, where each time period corresponds to one-quarter of a year. (You can download the data in the form of an Excel spreadsheet and then use the graphing commands in Excel.) Describe anyof an Excel spreadsheet and then use the graphing commands in Excel....
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- Spring '07