Question
In: Economics
The table as below presents the Real Disposable Personal Income (per capita, chained 2012 dollars) from...
The table as below presents the Real Disposable Personal Income (per capita, chained 2012 dollars) from 1981 to 1990.
1) Transform the real income of dollar values (the 2nd column) into natural logarithm (ln) values (the 3rd column). An example is given in the year 1981. You may use calculator, spreadsheet or other devices to calculate the ln values.
|
Year |
Real Income |
ln (Real Income) |
|
1981 |
21849 |
|
|
1982 |
22113 |
|
|
1983 |
22669 |
|
|
1984 |
24016 |
|
|
1985 |
24518 |
|
|
1986 |
25219 |
|
|
1987 |
25548 |
|
|
1988 |
26508 |
|
|
1989 |
27027 |
|
|
1990 |
27250 |
2) Plot the time-series graphs of Real Income and ln (Real Income) with respect to Year in two separate graphs. That is the Y-axis value should be the real income in Graph 1 and ln (real income) in Graph 2. And the X-axis should be Year in both graphs.
Solutions
Expert Solution
PAGE 1. Natural Log transformed Real Income Series.
PAGE 2. Graph (Graph 1) of Real Income with respect to year
PAGE 3. Graph (Graph 2) of ln(Real Income) with respect to
year
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Rahul Sunny answered 9 months agoRelated Solutions
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