To better see how the growth rate evolves through time, plot the annualized growth rate of consumption
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Question:
To better see how the growth rate evolves through time, plot the annualized growth rate of consumption expenditure. Describe what you see. Is it constant on average?
Please use this data:
| Year | Quarter | Expenditure |
| 1950 | 1 | 998 |
| 1950 | 2 | 1023 |
| 1950 | 3 | 1077 |
| 1950 | 4 | 1077 |
| 1951 | 1 | 1034 |
| 1951 | 2 | 1044 |
| 1951 | 3 | 1097 |
| 1951 | 4 | 1148 |
| 1952 | 1 | 1100 |
| 1952 | 2 | 1056 |
| 1952 | 3 | 1099 |
| 1952 | 4 | 1086 |
| 1953 | 1 | 1073 |
| 1953 | 2 | 1088 |
| 1953 | 3 | 1051 |
| 1953 | 4 | 1076 |
| 1954 | 1 | 1037 |
| 1954 | 2 | 1078 |
| 1954 | 3 | 1049 |
| 1954 | 4 | 1126 |
| 1955 | 1 | 1071 |
| 1955 | 2 | 1116 |
| 1955 | 3 | 1174 |
| 1955 | 4 | 1152 |
| 1956 | 1 | 1076 |
| 1956 | 2 | 1106 |
| 1956 | 3 | 1087 |
| 1956 | 4 | 1151 |
| 1957 | 1 | 1038 |
| 1957 | 2 | 1117 |
| 1957 | 3 | 1142 |
| 1957 | 4 | 1175 |
| 1958 | 1 | 1132 |
| 1958 | 2 | 1198 |
| 1958 | 3 | 1196 |
| 1958 | 4 | 1121 |
| 1959 | 1 | 1084 |
| 1959 | 2 | 1179 |
| 1959 | 3 | 1163 |
| 1959 | 4 | 1132 |
| 1960 | 1 | 1113 |
| 1960 | 2 | 1114 |
| 1960 | 3 | 1151 |
| 1960 | 4 | 1236 |
| 1961 | 1 | 1158 |
| 1961 | 2 | 1199 |
| 1961 | 3 | 1166 |
| 1961 | 4 | 1226 |
| 1962 | 1 | 1144 |
| 1962 | 2 | 1227 |
| 1962 | 3 | 1188 |
| 1962 | 4 | 1207 |
| 1963 | 1 | 1168 |
| 1963 | 2 | 1185 |
| 1963 | 3 | 1219 |
| 1963 | 4 | 1250 |
| 1964 | 1 | 1197 |
| 1964 | 2 | 1272 |
| 1964 | 3 | 1270 |
| 1964 | 4 | 1246 |
| 1965 | 1 | 1153 |
| 1965 | 2 | 1269 |
| 1965 | 3 | 1258 |
| 1965 | 4 | 1287 |
| 1966 | 1 | 1176 |
| 1966 | 2 | 1268 |
| 1966 | 3 | 1198 |
| 1966 | 4 | 1276 |
| 1967 | 1 | 1210 |
| 1967 | 2 | 1184 |
| 1967 | 3 | 1212 |
| 1967 | 4 | 1226 |
| 1968 | 1 | 1177 |
| 1968 | 2 | 1307 |
| 1968 | 3 | 1266 |
| 1968 | 4 | 1289 |
| 1969 | 1 | 1171 |
| 1969 | 2 | 1198 |
| 1969 | 3 | 1184 |
| 1969 | 4 | 1246 |
| 1970 | 1 | 1243 |
| 1970 | 2 | 1316 |
| 1970 | 3 | 1264 |
| 1970 | 4 | 1297 |
| 1971 | 1 | 1206 |
| 1971 | 2 | 1224 |
| 1971 | 3 | 1265 |
| 1971 | 4 | 1273 |
| 1972 | 1 | 1187 |
| 1972 | 2 | 1251 |
| 1972 | 3 | 1252 |
| 1972 | 4 | 1259 |
| 1973 | 1 | 1263 |
| 1973 | 2 | 1281 |
| 1973 | 3 | 1270 |
| 1973 | 4 | 1252 |
| 1974 | 1 | 1251 |
| 1974 | 2 | 1295 |
| 1974 | 3 | 1279 |
| 1974 | 4 | 1329 |
| 1975 | 1 | 1264 |
| 1975 | 2 | 1298 |
| 1975 | 3 | 1338 |
| 1975 | 4 | 1344 |
| 1976 | 1 | 1326 |
| 1976 | 2 | 1302 |
| 1976 | 3 | 1269 |
| 1976 | 4 | 1305 |
| 1977 | 1 | 1303 |
| 1977 | 2 | 1276 |
| 1977 | 3 | 1312 |
| 1977 | 4 | 1323 |
| 1978 | 1 | 1323 |
| 1978 | 2 | 1264 |
| 1978 | 3 | 1333 |
| 1978 | 4 | 1360 |
| 1979 | 1 | 1338 |
| 1979 | 2 | 1353 |
| 1979 | 3 | 1367 |
| 1979 | 4 | 1329 |
| 1980 | 1 | 1252 |
| 1980 | 2 | 1303 |
| 1980 | 3 | 1302 |
| 1980 | 4 | 1352 |
| 1981 | 1 | 1349 |
| 1981 | 2 | 1390 |
| 1981 | 3 | 1333 |
| 1981 | 4 | 1386 |
| 1982 | 1 | 1322 |
| 1982 | 2 | 1348 |
| 1982 | 3 | 1377 |
| 1982 | 4 | 1381 |
| 1983 | 1 | 1323 |
| 1983 | 2 | 1352 |
| 1983 | 3 | 1328 |
| 1983 | 4 | 1416 |
| 1984 | 1 | 1296 |
| 1984 | 2 | 1339 |
| 1984 | 3 | 1341 |
| 1984 | 4 | 1399 |
| 1985 | 1 | 1332 |
| 1985 | 2 | 1402 |
| 1985 | 3 | 1368 |
| 1985 | 4 | 1403 |
| 1986 | 1 | 1349 |
| 1986 | 2 | 1410 |
| 1986 | 3 | 1376 |
| 1986 | 4 | 1360 |
| 1987 | 1 | 1291 |
| 1987 | 2 | 1386 |
| 1987 | 3 | 1435 |
| 1987 | 4 | 1342 |
| 1988 | 1 | 1339 |
| 1988 | 2 | 1406 |
| 1988 | 3 | 1413 |
| 1988 | 4 | 1441 |
| 1989 | 1 | 1364 |
| 1989 | 2 | 1401 |
| 1989 | 3 | 1429 |
| 1989 | 4 | 1475 |
| 1990 | 1 | 1387 |
| 1990 | 2 | 1401 |
| 1990 | 3 | 1445 |
| 1990 | 4 | 1440 |
| 1991 | 1 | 1385 |
| 1991 | 2 | 1408 |
| 1991 | 3 | 1473 |
| 1991 | 4 | 1449 |
| 1992 | 1 | 1466 |
| 1992 | 2 | 1448 |
| 1992 | 3 | 1442 |
| 1992 | 4 | 1367 |
| 1993 | 1 | 1403 |
| 1993 | 2 | 1423 |
| 1993 | 3 | 1441 |
| 1993 | 4 | 1442 |
| 1994 | 1 | 1391 |
| 1994 | 2 | 1437 |
| 1994 | 3 | 1452 |
| 1994 | 4 | 1446 |
| 1995 | 1 | 1496 |
| 1995 | 2 | 1479 |
| 1995 | 3 | 1424 |
| 1995 | 4 | 1442 |
| 1996 | 1 | 1450 |
| 1996 | 2 | 1424 |
| 1996 | 3 | 1428 |
| 1996 | 4 | 1450 |
| 1997 | 1 | 1453 |
| 1997 | 2 | 1440 |
| 1997 | 3 | 1498 |
| 1997 | 4 | 1553 |
| 1998 | 1 | 1450 |
| 1998 | 2 | 1488 |
| 1998 | 3 | 1472 |
| 1998 | 4 | 1513 |
| 1999 | 1 | 1449 |
| 1999 | 2 | 1411 |
| 1999 | 3 | 1478 |
| 1999 | 4 | 1562 |
| 2000 | 1 | 1555 |
| 2000 | 2 | 1467 |
| 2000 | 3 | 1437 |
| 2000 | 4 | 1478 |
| 2001 | 1 | 1433 |
| 2001 | 2 | 1510 |
| 2001 | 3 | 1482 |
| 2001 | 4 | 1481 |
| 2002 | 1 | 1516 |
| 2002 | 2 | 1448 |
| 2002 | 3 | 1449 |
| 2002 | 4 | 1487 |
| 2003 | 1 | 1453 |
| 2003 | 2 | 1456 |
| 2003 | 3 | 1514 |
| 2003 | 4 | 1552 |
| 2004 | 1 | 1482 |
| 2004 | 2 | 1479 |
| 2004 | 3 | 1487 |
| 2004 | 4 | 1552 |
| 2005 | 1 | 1480 |
| 2005 | 2 | 1499 |
| 2005 | 3 | 1490 |
| 2005 | 4 | 1514 |
| 2006 | 1 | 1464 |
| 2006 | 2 | 1486 |
| 2006 | 3 | 1471 |
| 2006 | 4 | 1504 |
| 2007 | 1 | 1477 |
| 2007 | 2 | 1576 |
| 2007 | 3 | 1527 |
| 2007 | 4 | 1569 |
| 2008 | 1 | 1497 |
| 2008 | 2 | 1525 |
| 2008 | 3 | 1464 |
| 2008 | 4 | 1572 |
| 2009 | 1 | 1505 |
| 2009 | 2 | 1533 |
| 2009 | 3 | 1478 |
| 2009 | 4 | 1529 |
| 2010 | 1 | 1533 |
| 2010 | 2 | 1500 |
| 2010 | 3 | 1518 |
| 2010 | 4 | 1551 |
| 2011 | 1 | 1532 |
| 2011 | 2 | 1574 |
| 2011 | 3 | 1522 |
| 2011 | 4 | 1559 |
| 2012 | 1 | 1577 |
| 2012 | 2 | 1562 |
| 2012 | 3 | 1563 |
| 2012 | 4 | 1537 |
| 2013 | 1 | 1552 |
| 2013 | 2 | 1570 |
| 2013 | 3 | 1520 |
| 2013 | 4 | 1536 |
| 2014 | 1 | 1525 |
| 2014 | 2 | 1564 |
| 2014 | 3 | 1568 |
| 2014 | 4 | 1612 |
| 2015 | 1 | 1532 |
| 2015 | 2 | 1498 |
| 2015 | 3 | 1488 |
| 2015 | 4 | 1598 |
| 2016 | 1 | 1517 |
| 2016 | 2 | 1499 |
| 2016 | 3 | 1539 |
| 2016 | 4 | 1571 |
| 2017 | 1 | 1513 |
| 2017 | 2 | 1571 |
| 2017 | 3 | 1487 |
| 2017 | 4 | 1514 |
| 2018 | 1 | 1490 |
| 2018 | 2 | 1564 |
| 2018 | 3 | 1532 |
| 2018 | 4 | 1537 |
| 2019 | 1 | 1507 |
| 2019 | 2 | 1534 |
| 2019 | 3 | 1555 |
| 2019 | 4 | 1626 |
| 2020 | 1 | 1499 |
| 2020 | 2 | 1549 |
| 2020 | 3 | 1492 |
| 2020 | 4 | 1538 |
Expert Answer:
To plot the annualized growth rate of consumption expenditure we first need to calculate the growth rate for each year The growth rate can be calculated using the formula Growth Rate Expenditure in Ye... View the full answer
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