Evaluation of the Macroeconomic Performance of Australia and USA
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Running head: ECONOMICS
Economics
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Economics
Name of the student
Name of the university
Author note
1
ECONOMICS
Table of Contents
Evaluation of the macroeconomic performance of Australia and USA.....................................2
Introduction................................................................................................................................2
Summary statistics of the macroeconomic indicators of Australia and the United States of
America......................................................................................................................................2
Graphs of macroeconomic indicators.......................................................................................12
Government policies of Australia and USA............................................................................17
Macroeconomic outlook of Australia.......................................................................................19
Conclusion................................................................................................................................21
Reference list............................................................................................................................23
ECONOMICS
Table of Contents
Evaluation of the macroeconomic performance of Australia and USA.....................................2
Introduction................................................................................................................................2
Summary statistics of the macroeconomic indicators of Australia and the United States of
America......................................................................................................................................2
Graphs of macroeconomic indicators.......................................................................................12
Government policies of Australia and USA............................................................................17
Macroeconomic outlook of Australia.......................................................................................19
Conclusion................................................................................................................................21
Reference list............................................................................................................................23
2
ECONOMICS
Evaluation of the macroeconomic performance of Australia and USA
The paper below shows the summary statistics and the graph of the pair wise
macroeconomic factors that affects the Australian as well as the American economy from the
year 1995 to 2015. The summary statistics of each of the indicators shows how they are
related to each other and the graph shows the relationship between the real gross domestic
product and the other factors of the macroeconomy.
Introduction
The macroeconomic factor that relates to the economy at the regional or at the
national level which affects the large population. The macroeconomic factors comprise of the
unemployment, inflation, savings and investments. They are known as the key indicators of
the economic performance which are known to closely monitored by the business,
governments and consumers.
Summary statistics of the macroeconomic indicators of Australia and the United States
of America
Table 1 REAL GDP growth of Australia and USA
Column1
REAL GDP GROWTH RATE OF
AUSTRALIA
Mean 0.07749512
Standard Error 0.221400338
Median 0.081144834
Mode #N/A
Standard Deviation 1.01458381
Sample Variance 1.029380307
Kurtosis 0.008634789
Skewness 0.038330901
Range 4.079999908
Minimum 2.010083353
ECONOMICS
Evaluation of the macroeconomic performance of Australia and USA
The paper below shows the summary statistics and the graph of the pair wise
macroeconomic factors that affects the Australian as well as the American economy from the
year 1995 to 2015. The summary statistics of each of the indicators shows how they are
related to each other and the graph shows the relationship between the real gross domestic
product and the other factors of the macroeconomy.
Introduction
The macroeconomic factor that relates to the economy at the regional or at the
national level which affects the large population. The macroeconomic factors comprise of the
unemployment, inflation, savings and investments. They are known as the key indicators of
the economic performance which are known to closely monitored by the business,
governments and consumers.
Summary statistics of the macroeconomic indicators of Australia and the United States
of America
Table 1 REAL GDP growth of Australia and USA
Column1
REAL GDP GROWTH RATE OF
AUSTRALIA
Mean 0.07749512
Standard Error 0.221400338
Median 0.081144834
Mode #N/A
Standard Deviation 1.01458381
Sample Variance 1.029380307
Kurtosis 0.008634789
Skewness 0.038330901
Range 4.079999908
Minimum 2.010083353
3
ECONOMICS
Maximum 2.069916555
Sum 1.62739753
Count 21
Confidence Level
(95.0%) 0.461833013
Column1
REAL GDP GROWTH
RATE OF USA
Mean 0.183529247
Standard Error 0.378251666
Median 0.238821158
Mode #N/A
Standard Deviation 1.774157575
Sample Variance 3.1476351
Kurtosis 3.477356076
Skewness 1.019380258
Range 8.423644805
Minimum 3.116194615
Maximum 5.30745019
Sum 4.037643425
Count 22
Confidence Level
(95.0%) 0.786617401
The table above shows that the mean of real gross domestic product of Australia is quite low
when compared to the real GDP of USA. The maximum growth of GDP was 5 percent for
USA. The data that has been collected from the world bank shows that the inflation starts
declining from 1995 to 1999 however, the real gross domestic growth rate remained constant
at 3.8 for the three years. The inflation rate of the united states of America were around 2 to 3
percent for most of the years. Though it can be seen that in the year 2009, it went to negative.
ECONOMICS
Maximum 2.069916555
Sum 1.62739753
Count 21
Confidence Level
(95.0%) 0.461833013
Column1
REAL GDP GROWTH
RATE OF USA
Mean 0.183529247
Standard Error 0.378251666
Median 0.238821158
Mode #N/A
Standard Deviation 1.774157575
Sample Variance 3.1476351
Kurtosis 3.477356076
Skewness 1.019380258
Range 8.423644805
Minimum 3.116194615
Maximum 5.30745019
Sum 4.037643425
Count 22
Confidence Level
(95.0%) 0.786617401
The table above shows that the mean of real gross domestic product of Australia is quite low
when compared to the real GDP of USA. The maximum growth of GDP was 5 percent for
USA. The data that has been collected from the world bank shows that the inflation starts
declining from 1995 to 1999 however, the real gross domestic growth rate remained constant
at 3.8 for the three years. The inflation rate of the united states of America were around 2 to 3
percent for most of the years. Though it can be seen that in the year 2009, it went to negative.
4
ECONOMICS
Column1
INFLATION RATE
USA
Mean 2.265611
Standard Error 0.229945
Median 2.33769
Mode #N/A
Standard Deviation 1.05374
Sample Variance 1.110369
Kurtosis 0.925325
Skewness 0.96449
Range 4.194647
Minimum 0.35555
Maximum 3.8391
Sum 47.57783
Count 21
Confidence Level
(95.0%) 0.479657
Column1 INFLATION RATE OF AUSTRALIA
Mean 2.660028
Standard Error 0.258969
Median 2.615385
Mode #N/A
Standard Deviation 1.186744
Sample Variance 1.408362
Kurtosis 0.29508
Skewness 0.01036
Range 4.402879
Minimum 0.224888
Maximum 4.627767
Sum 55.86059
Count 21
Confidence Level
(95.0%) 0.540199
ECONOMICS
Column1
INFLATION RATE
USA
Mean 2.265611
Standard Error 0.229945
Median 2.33769
Mode #N/A
Standard Deviation 1.05374
Sample Variance 1.110369
Kurtosis 0.925325
Skewness 0.96449
Range 4.194647
Minimum 0.35555
Maximum 3.8391
Sum 47.57783
Count 21
Confidence Level
(95.0%) 0.479657
Column1 INFLATION RATE OF AUSTRALIA
Mean 2.660028
Standard Error 0.258969
Median 2.615385
Mode #N/A
Standard Deviation 1.186744
Sample Variance 1.408362
Kurtosis 0.29508
Skewness 0.01036
Range 4.402879
Minimum 0.224888
Maximum 4.627767
Sum 55.86059
Count 21
Confidence Level
(95.0%) 0.540199
5
ECONOMICS
Column1 UNEMPLOYMENT RATE OF AUSTRALIA
Mean 6.089523792
Standard Error 0.280750247
Median 5.929999828
Mode #N/A
Standard Deviation 1.286559258
Sample Variance 1.655234724
Kurtosis 0.372278321
Skewness 0.684467226
Range 4.28000021
Minimum 4.230000019
Maximum 8.510000229
Sum 127.8799996
Count 21
ECONOMICS
Column1 UNEMPLOYMENT RATE OF AUSTRALIA
Mean 6.089523792
Standard Error 0.280750247
Median 5.929999828
Mode #N/A
Standard Deviation 1.286559258
Sample Variance 1.655234724
Kurtosis 0.372278321
Skewness 0.684467226
Range 4.28000021
Minimum 4.230000019
Maximum 8.510000229
Sum 127.8799996
Count 21
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