1. Describe GDP & Unemployment Country Z 1 YEAR AGO 3.5% Country X Country Y 1 YEAR AGO 0.3% NOW NOW 1 YEAR AGO 5.1% INDICATOR NOW GDP growth rate 10.9% -3.2% 3.7% Unemployment rate 1.5% 3% 10.1% 7.2% 4.2% 4.5% Inflation rate 6% 3.8% -1% 1.5% 2.2% 2% Explain if each country (X,Y,Z) is healthy. If there is a problem, is it inflation or recession? 3. 2. During a expansion phase of the business cycle a) GDP is (increasing decreasing b) Unemployment is(increasing decreasing) c) Inflation is (increasingdecreasing) 4. During a contraction phase of the business cycle a) GDP is (increasing/decreasing)- b) Unemployment is (increasing /decreasing) c) Inflation is (increasing/decreasing).

1. Describe GDP & Unemployment Country Z 1 YEAR AGO 3.5% Country X Country Y 1 YEAR AGO 0.3% NOW NOW 1 YEAR AGO 5.1% INDICATOR NOW GDP growth rate 10.9% -3.2% 3.7% Unemployment rate 1.5% 3% 10.1% 7.2% 4.2% 4.5% Inflation rate 6% 3.8% -1% 1.5% 2.2% 2% Explain if each country (X,Y,Z) is healthy. If there is a problem, is it inflation or recession? 3. 2. During a expansion phase of the business cycle a) GDP is (increasing decreasing b) Unemployment is(increasing decreasing) c) Inflation is (increasingdecreasing) 4. During a contraction phase of the business cycle a) GDP is (increasing/decreasing)- b) Unemployment is (increasing /decreasing) c) Inflation is (increasing/decreasing).

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter18: Introduction To Macroeconomics: Unemployment, Inflation, And Economic Fluctuations

Section: Chapter Questions

Problem 14P

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