Elasticity impact on events The degree of responsiveness which measures the percentage change in the quantity demanded or supplied due to percentage change in the price of that commodity is known as elasticity. South32 is a metals and mining company which produces several metals such as alumina, energy, manganese, zinc, metallurgical coal, silver, bauxite and nickel in Australia. Since the products are diversified and there are few marke…
Economic Outlook of Australia The current state of monetary policy and economy outlook Before discussing the monetary policy of Australia, an important concept of Cash Rate must be discussed. Monetary policy choices are conveyed as a cash-rate goal, which is the overnight interest rate on the monetary sector. The Reserve Bank of Australia's significant benchmark interest level depending on its inflation goal charged on overnight borrowi…
The Rate of Employment in the UK and the Impact of Southeast Immigration on It Theoretical framework The research challenge is extremely demanding as it requires the determination of the effect of migration on the employment outcomes of UK workers. The consequences of migration cannot adequately be distinguished from other factors that affect labour market outcomes at the same time. While we are certain that the influence of immigration is …
ECONOMIC ANALYSIS Table of contents Article 1: Question analysis Article 2: Question a analysis Question b analysis Article 3: Question analysis References list Article 1: Question analysis As per the circular flow of income, the exchanges take place by way of money and the goods and services. The circular flow of income leads to good knowledge of a nation's economy. The circular flow of i…
Econometrics Assessment Answer Problem Set 3 Time Series and Autocorrelation EC421 Introduction to Econometrics Problem 1 PtGas 01PtoiluNo, we cant expect OLS estimator to be consistent. From the history, it is evident that gas price depends on previous periods gas prices. So, there can be autocorrelation problem. OLS estimate of model 1a is provided below Call lm(formula price_gas price_oil, data data) Residuals Min 1Q Median 3Q …
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