Graph the two GDP series you have downloaded - make sure to label both. Place GDP on the vertical axis and time on the horizontal axis
economics
Description
This part uses data that you need to find on the Statistics New Zealand website Infoshare (http://archive.stats.govt.nz/infoshare/). Refer to the separate file Instructions for finding Part 1 data.pdf on how to download these data.
Using the StatsNZ nominal GDP (NGDP), real GDP (RGDP) and resident population
data (RPop) you have downloaded, complete the following. You may wish to enter this
data into the Part 1 data sheet in the Econ141 20-1 assignment data Excel file
1. Graph the two GDP series you have downloaded - make sure to label both. Place
GDP on the vertical axis and time on the horizontal axis
2. (i) How much did NGDP grow between 2004 and 2020?
(ii) How much did real RGDP grow between 2004 and 2020?
3. If one grew more than the other what does this mean? Explain in 50 words or less.
4. Using the resident population data, calculate RGDP per capita for each year from
2004-2011. Given this, answer the following questions:
(i) In percentage terms, how much did RGDP per capita grow per annum on
average between 2004 and 2008?
(ii) What about 2008 to 2011?
5. Assume that RGDP per capita in NZ typically grows at about 1.3% p.a. normally.
Discuss the differences in RGDP per capita growth in the 2004-2008 and 2008-2011
periods in terms of our concept of booms and busts. Do this in 100 words or less.
