Macroeconomics Data Calculations
•Download as PPTX, PDF•
1 like•4,074 views
The document contains sample macroeconomic data and calculations questions. It includes calculations of: - The percentage change in UK house prices from 2009 to 2017 (46.1% increase). - The average level of UK household savings in 2010 (£2,100). - The UK trade surplus in services in 2016 (£94,818 million). - The level of UK GDP in 2017 (£2.02 trillion) given the current account balance. - Various exchange rate calculations for 2016-2017. - The real GDP per head in the UK in 2016 (constant prices of £29,000). - A weighted consumer price index calculation for the UK in 2017 (105.05). - The percentage difference
Recommended
Recommended
More Related Content
What's hot
What's hot (6)
Similar to Macroeconomics Data Calculations
Similar to Macroeconomics Data Calculations (20)
More from tutor2u
More from tutor2u (20)
Recently uploaded
Recently uploaded (20)
Macroeconomics Data Calculations
- 2. 1) Average House Prices in the UK 100000 120000 140000 160000 180000 200000 220000 240000 2005Jan 2005Jun 2005Nov 2006Apr 2006Sep 2007Feb 2007Jul 2007Dec 2008May 2008Oct 2009Mar 2009Aug 2010Jan 2010Jun 2010Nov 2011Apr 2011Sep 2012Feb 2012Jul 2012Dec 2013May 2013Oct 2014Mar 2014Aug 2015Jan 2015Jun 2015Nov 2016Apr 2016Sep 2017Feb 2017Jul UK average house price, £s Calculate the percentage change in average house prices in the UK over the period from March 2009 to July 2017.
- 3. 1) Average House Prices in the UK 100000 120000 140000 160000 180000 200000 220000 240000 2005Jan 2005Jun 2005Nov 2006Apr 2006Sep 2007Feb 2007Jul 2007Dec 2008May 2008Oct 2009Mar 2009Aug 2010Jan 2010Jun 2010Nov 2011Apr 2011Sep 2012Feb 2012Jul 2012Dec 2013May 2013Oct 2014Mar 2014Aug 2015Jan 2015Jun 2015Nov 2016Apr 2016Sep 2017Feb 2017Jul UK average house price, £s Calculate the percentage change in average house prices in the UK over the period from March 2009 to July 2017. Data points: March 2009, £154,000 July 2017, £225,000
- 4. 1) Average House Prices in the UK 100000 120000 140000 160000 180000 200000 220000 240000 2005Jan 2005Jun 2005Nov 2006Apr 2006Sep 2007Feb 2007Jul 2007Dec 2008May 2008Oct 2009Mar 2009Aug 2010Jan 2010Jun 2010Nov 2011Apr 2011Sep 2012Feb 2012Jul 2012Dec 2013May 2013Oct 2014Mar 2014Aug 2015Jan 2015Jun 2015Nov 2016Apr 2016Sep 2017Feb 2017Jul UK average house price, £s Calculate the percentage change in average house prices in the UK over the period from March 2009 to July 2017. Data points: March 2009, £154,000 July 2017, £225,000 Percentage change calculation: (Change/original) * 100 = 71/154 * 100 = 46.1% (to 1 decimal place)
- 5. 2) Households saving ratio % of disposable income The household savings ratio measures savings as a percentage of disposable income If average household disposable income was £20,000 in 2010, calculate the average level of household saving in 2010.
- 6. 2) Households saving ratio % of disposable income The household savings ratio measures savings as a percentage of disposable income If average household disposable income was £20,000 in 2010, calculate the average level of household saving in 2010. Data point: Estimated savings ratio = 10.5% If disposable income was £20,000, then average household saving £20,000 * 0.105 = £2,100
- 7. 3) Current account of the balance of payments UK Trade Accounts, annual, £ million 2016 2017 A) Trade in goods -135,495 -135,582 B) Trade in services 106,962 C) Net primary income -50,384 -33,280 D) Net secondary income -22,506 -20,974 E) Current account balance -113,567 -82,874 Balances as a percentage of GDP Current balance as a percentage of GDP -5.8 -4.1 Calculate the trade balance in services in 2016
- 8. 3) Current account of the balance of payments UK Trade Accounts, annual, £ million 2016 2017 A) Trade in goods -135,495 -135,582 B) Trade in services 106,962 C) Net primary income -50,384 -33,280 D) Net secondary income -22,506 -20,974 E) Current account balance -113,567 -82,874 Balances as a percentage of GDP Current balance as a percentage of GDP -5.8 -4.1 Calculate the trade balance in services in 2016 Trade balance in services difference between E and A+C+D = trade surplus of £94,818m
- 9. 3) Current account of the balance of payments UK Trade Accounts, annual, £ million 2016 2017 A) Trade in goods -135,495 -135,582 B) Trade in services 94,818 106,962 C) Net primary income -50,384 -33,280 D) Net secondary income -22,506 -20,974 E) Current account balance -113,567 -82,874 Balances as a percentage of GDP Current balance as a percentage of GDP -5.8 -4.1 Given that the current account balance for the UK was 4.1% of GDP in 2017, using the data, calculate the level of UK GDP in 2017.
- 10. 3) Current account of the balance of payments UK Trade Accounts, annual, £ million 2016 2017 A) Trade in goods -135,495 -135,582 B) Trade in services 94,818 106,962 C) Net primary income -50,384 -33,280 D) Net secondary income -22,506 -20,974 E) Current account balance -113,567 -82,874 Balances as a percentage of GDP Current balance as a percentage of GDP -5.8 -4.1 Given that the current account balance for the UK was 4.1% of GDP in 2017, using the data, calculate the level of UK GDP in 2017. Current account balance was £82, 874m This is 4.1% of GDP Therefore GDP = £82,874m / 0.041 = £2,021,317 million Or £2.02 trillion
- 11. 4) Sterling Exchange Rate Index Sterling Exchange Rate Index (2005=100) Sterling/US Dollar Exchange Rate Sterling / Euro Exchange Rate 2014 87.0 1.65 1.24 2015 91.5 1.53 1.38 2016 82.0 1.36 1.22 2017 77.4 1.29 1.14 Calculate the percentage change in the sterling exchange rate index between 2016 and 2017.
- 12. 4) Sterling Exchange Rate Index Sterling Exchange Rate Index (2005=100) Sterling/US Dollar Exchange Rate Sterling / Euro Exchange Rate 2014 87.0 1.65 1.24 2015 91.5 1.53 1.38 2016 82.0 1.36 1.22 2017 77.4 1.29 1.14 Calculate the percentage change in the sterling exchange rate index between 2016 and 2017. % change = (change/original) *100 Change = -4.6 Original = 82.0 Therefore percentage change = -4.6/82 *100 = - 5.6%
- 13. 4) Sterling Exchange Rate Index Sterling Exchange Rate Index (2005=100) Sterling/US Dollar Exchange Rate Sterling / Euro Exchange Rate 2014 87.0 1.65 1.24 2015 91.5 1.53 1.38 2016 82.0 1.36 1.22 2017 77.4 1.29 1.14 Given that in 2017, £1 bought US$ 1.29 and £1 bought Euro 1.14, calculate the US$/Euro exchange rate in 2017
- 14. 4) Sterling Exchange Rate Index Sterling Exchange Rate Index (2005=100) Sterling/US Dollar Exchange Rate Sterling / Euro Exchange Rate 2014 87.0 1.65 1.24 2015 91.5 1.53 1.38 2016 82.0 1.36 1.22 2017 77.4 1.29 1.14 Given that in 2017, £1 bought US$ 1.29 and £1 bought Euro 1.14, calculate the US$/Euro exchange rate in 2017 £1 buys US$ 1.29 £1 buys Euro 1.14 Therefore US$ 1.29 = Euro 1.14 Therefore US$1 = 1.14/1.29 One US dollar buys Euro 0.88 Or $1 buys 88 Euro cents
- 15. 5) Nominal and Real GDP per head Year GDP per head at current prices (£s) GDP Deflator (Index of prices), 2012=100 2012 26454 100.0 2013 27338 101.2 2014 28439 102.5 2015 29008 102.4 2016 29873 103.0 Using the data in the table, convert the nominal level of GDP per head in 2016 (measured at current prices) to real GDP per head in 2016 (measured at constant prices)
- 16. 5) Nominal and Real GDP per head Year GDP per head at current prices (£s) GDP Deflator (Index of prices), 2012=100 2012 26454 100.0 2013 27338 101.2 2014 28439 102.5 2015 29008 102.4 2016 29873 103.0 Using the data in the table, convert the nominal level of GDP per head in 2016 (measured at current prices) to real GDP per head in 2016 (measured at constant prices) Real GDP per head in 2016 = Nominal GDP per head x (100/price index for 2016)
- 17. 5) Nominal and Real GDP per head Year GDP per head at current prices (£s) GDP Deflator (Index of prices), 2012=100 2012 26454 100.0 2013 27338 101.2 2014 28439 102.5 2015 29008 102.4 2016 29873 103.0 Using the data in the table, convert the nominal level of GDP per head in 2016 (measured at current prices) to real GDP per head in 2016 (measured at constant prices) Real GDP per head in 2016 = Nominal GDP per head x (100/price index for 2016) Real GDP per head in 2016 = £29,873 x 100 / 103.0 = £29,000 at constant prices
- 18. 6) Calculating a consumer price index Category of spending Weighting in the index Price Index for 2016 Price Index for 2017 Transport 20 100 114 Energy 30 100 106 Food and drink 35 100 103 Telecommunications 15 100 96 Using the data in the table calculate a weighted consumer price index for 2017
- 19. 6) Calculating a consumer price index Category of spending Weighting in the index Price Index for 2016 Price Index for 2017 Transport 20 100 114 Energy 30 100 106 Food and drink 35 100 103 Telecommunications 15 100 96 Using the data in the table calculate a weighted consumer price index for 2017 Weighted price index = (20*114) + (30*106) + (35*103) + (15*96) / 100 2280 + 3180 + 3605 + 1440 10505 / 100 = 105.05
- 20. 7) Mean and median disposable income Using the data in the chart, calculate the percentage difference between median and mean disposable income I the UK
- 21. 7) Mean and median disposable income Using the data in the chart, calculate the percentage difference between median and mean disposable income I the UK Median income = £27,310 Mean income = £32,676 Difference is £5,366 Expressed as a percentage of median income = £5,366/£27,310 = 19.6%
- 22. 7) Mean and median disposable income Using the data in the chart, what is the approximate modal income bracket for household disposable income?
- 23. 7) Mean and median disposable income Using the data in the chart, what is the approximate modal income bracket for household disposable income? The greatest number of households (mode) falls into the £17,000 to £18,000 bracket, which is in the third decile of the distribution.