Answered: Explain how a severe drought in a…

Explain how a severe drought in a country, whose main activity is agriculture, can affect: The gross domestic product of that country Unemployment rate The agricultural product price index

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter13: Measuring The Economy's Performance

Section: Chapter Questions

Problem 1AA

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Question

Explain how a severe drought in a country, whose main activity is agriculture, can affect:

The gross domestic product of that country

Unemployment rate
The agricultural product price index

Definition Definition State in which an individual is without work, despite actively seeking employment opportunities. The unemployment rate refers to the percentage of the workforce that is currently unemployed. Unemployment is one of the key indicators of the conditions prevailing in an economy. It is therefore considered a barometer that points out the condition of an economy.

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