Table includes the additional variable wealth W , measured here by total liquid assets, in billions of dollars, to the data in Table for the United States for the years 1975 to 1996. For the demand-supply model in Prob. 10.9, estimate the supply equation by (a) 2SLS and (b) OLS.
Table Index of Crop Output, Prices, Disposable Income per Capita, and Total Liquid Assets in Billions of Dollars in the United States, 1975-1996
|
Year
|
1975
|
1976
|
1977
|
1978
|
1979
|
1980
|
1981
|
1982
|
1983
|
1984
|
1985
|
|
Q
|
68
|
68
|
74
|
76
|
83
|
75
|
87
|
87
|
68
|
85
|
89
|
|
P
|
88
|
87
|
83
|
89
|
98
|
107
|
111
|
98
|
108
|
111
|
98
|
|
Y
|
14,236
|
14,653
|
15,010
|
15,627
|
15,942
|
15,944
|
16,154
|
16,250
|
16,564
|
17,687
|
18,120
|
|
W
|
1366.5
|
1516.7
|
1705.4
|
1911.3
|
2121.2
|
2330.0
|
2601.8
|
2846.0
|
3150.7
|
3518.7
|
3827.1
|
|
Year
|
1986
|
1987
|
1988
|
1989
|
1990
|
1991
|
1992
|
1993
|
1994
|
1995
|
1996
|
|
Q
|
84
|
86
|
75
|
86
|
92
|
92
|
100
|
90
|
106
|
96
|
103
|
|
P
|
87
|
86
|
104
|
109
|
103
|
101
|
101
|
102
|
105
|
112
|
127
|
|
Y
|
18,536
|
18,790
|
19,448
|
19,746
|
19,967
|
19,892
|
20,359
|
20,354
|
20,675
|
21,032
|
21,385
|
|
W
|
4122.4
|
4340.0
|
4663.7
|
4893.2
|
4977.5
|
5008.0
|
5081.4
|
5173.3
|
5315.8
|
5702.3
|
6083.6
|