HW1_answer(Jan_2011 - Econ 352 Intermediate Macroeconomics YiLi Chien Spring 2011 Homework Assignment 1 Suggested Answer Question 1 Data The

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Econ 352 YiLi Chien Intermediate Macroeconomics Spring 2011 Homework Assignment 1 Suggested Answer Question 1: Data The purpose of first question is let you have the ability to find some macro data on web. It is quite an important skill to be able to search and find appropriate data on the web. Please write clearly and concisely, show your work and label properly your plots. a. (20 pts) Go to the BEA web page ( http://www.bea.gov/national/nipaweb/SelectTable.asp?Selected=N ) and get data for annual U.S. GDP 1929-2009 (look for table 1.1.5 and 1.1.6. Be smart and download the data, NOT copy them by hand). Plot the data both for real and nominal values (in two different plots!). What do you see? Can you identify any historical episode in the series? Which of the two plots do you think is more informative? b. (10 pts) Do the same with consumption, investment and government consumption (only for real values). Compared annual data of consumption and GDP, what do you find here? Hint: try to search the right data in the same webpage as in part (a). c. (10 pts) In the same web page ( http://www.bea.gov/national/nipaweb/SelectTable.asp?Selected=N )) get data for personal income (refer to table 2.1, annual data from 1929-2009). Divide labor payments (“Compensation of employees, received” in the file) by total personal income, which is the share of labor payments in the total income. Do you see anything special about the ratio? d. (20 pts) Now some international data. Get good data on other countries GDP and population and compute GDP per capita in a recent year for at least 10 countries. Compare these total GDP and GDP per capita with U.S. data. Cite CLEARLY your sources. (Hint: the OECD web page is great for international data. www.oecd.org ). Answer: a. See attached file “Q1.xls”. Go to www.bea.gov , choose “National Economic Accounts> Interactive Table Home> Table Selection”, then in the context of “selected NIPA tables”, choose “Section 1 - Domestic Product and Income”. For nominal data, open “Table 1.1.5. Gross Domestic Product (A) (Q)
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This note was uploaded on 04/02/2012 for the course ECON 352 taught by Professor Staff during the Fall '08 term at Purdue University-West Lafayette.

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HW1_answer(Jan_2011 - Econ 352 Intermediate Macroeconomics YiLi Chien Spring 2011 Homework Assignment 1 Suggested Answer Question 1 Data The

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