Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Table below shows the descriptive statistics which have been condensed from the data sheet for the period 1987 Q4 to 2011 Q3.
GDP (%)
Real Exchange Rate (Base: Jan 2005=100)
Oil price ($/barrel)
Inflation (%)
Unemployment rate (%)
Interest rate (%)
Mean
0.49
93.787
37.409
3.571
6.914
6.115
St. Dev.
0.64
8.064
28.809
2.138
1.705
3.604
Min
-2.2
77.746
11.187
-1.367
4.6
0.5
Max
1.7
104.644
121.397
10.43
10.4
14.79
Table- A table showing the descriptive statistics from the data.
Numerous interesting facts can be observed in the table above. Firstly, the range of oil price over a 24 year period is staggering, highlighting the volatile nature of the commodity. The mean of the oil price is $37.41 per barrel. This is a stark contrast to recent prices of around $120 per barrel (Bloomberg, 2012). The standard deviation for oil is surprising also. It shows that the majority of the oil prices throughout the sample period have been within $29of the mean figure of $37.41 per barrel. This once again emphasises just how high the current price of oil is. Another figure which offers a stark contrast to the current UK economic performance is the interest rate mean. At 6.115 the rate is 5.615 higher than the current level 0.5% (Bank of England, 2012). This illustrates how low the demand for money in the UK is at present. The mean GDP figure shows that across the 24 year period, the UK achieved a mean growth rate of 1.98% annually. This figure will make pleasant reading to the policymakers throughout this period as the target rate of growth for the UK is 2%.
Good X is produced in a competitive market using input A. Explain what would happen to the supply of good X in each of the following situations. The price of input A decreases.
definition of cheap money
Under what conditions does the text explain that monetary policy is neutral? If it is neutral under these conditions, why is it still an important economic policy tool? Your answer
kajfasklfasklfj laksflaskfads
Determine the principle of equity The principle of equity is that a tax must be fair and the tax is levied on those with the ability to pay tax. The principle of efficiency
DEMOGRAPHIC FEATURES IN DEVELOPMENT: We have learned in the previous unit that human resources play a significant role in generating aggregate flow of goods and services. The
A mechanical engineer who is anticipating paying for his daughter's college education plans to start depositing money now (year 0) and continue through year 17. If he deposits $ 50
Q. Define Effective exchange rate? Suppose that we are interested in external competitiveness of a country, let's say Japan. To do this we could look at evolution of a particul
Explain the difference among saving and investment as explained by macroeconomists. Which of the following situations represent investment or saving? Explain: a) You u
What is the different between price effect and sales effect? Both relate to Elasticity and Total Revenue: a. A price effect: After a price raise, all unit sold sells at a hi
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd