Question 2Assume that the following are the statistics for Xlandia's inflation and unemployment from 1985to 2020. (Your answer should be 200 words ±10%)YearInflation (%)Unemployment (/)YearInflation (%)Unemployment (%)1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 20026.3 9.4 7.3 9.1 16.0 24.3 16.6 15.8 8.3 13.4 18.0 11.9 8.6 4.6 5.0 6.1 3.4 3.72.3 2.3 3.6 5.6 6.0 5.9 5.0 6.4 9.8 11.3 12.4 11.7 11.2 11.2 10.32.4 3.0 3.32003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 20204.9 7.8 9.5 5.9 3.7 1.6 2.4 3.5 2.4 3.1 3.4 1.5 3.0 1.8 1.7 2.9 3.0 2.78.9 7.3 6.9 8.5 9.8 10.5 9.8 8.8 8.3 7.2 6.3 6.1 5.6 4.9 5.2 5.0 4.8 4.7(c)How would you describe the relationship between inflation and unemploymentbetween 2009 and 2020.

The Phillips Curve was created to explain the relationship between an economy's unemployment and…

Question 2 Assume that the following are the statistics for Xlandia's inflation and unemployment from 1985 to 2020. (Your answer should be 200 words ±10%) Year Inflation (%) Unemployment (%) Year Inflation (%) Unemployment (%) 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 6.3 9.4 7.3 9.1 16.0 24.3 16.6 15.8 8.3 13.4 18.0 11.9 8.6 4.6 5.0 6.1 3.4 3.7 2.4 3.0 3.3 2.3 2.3 3.6 5.6 6.0 5.9 5.0 6.4 9.8 11.3 12.4 11.7 11.2 11.2 10.3 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 4.9 7.8 9.5 5.9 3.7 1.6 2.4 3.5 2.4 3.1 3.4 1.5 3.0 1.8 1.7 2.9 3.0 2.7 8.9 7.3 6.9 8.5 9.8 10.5 9.8 8.8 8.3 7.2 6.3 6.1 5.6 4.9 5.2 5.0 4.8 4.7 (c) How would you describe the relationship between inflation and unemployment between 2009 and 2020.

Question 2 Assume that the following are the statistics for Xlandia's inflation and unemployment from 1985 to 2020. (Your answer should be 200 words ±10%) Year Inflation (%) Unemployment (%) Year Inflation (%) Unemployment (%) 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 6.3 9.4 7.3 9.1 16.0 24.3 16.6 15.8 8.3 13.4 18.0 11.9 8.6 4.6 5.0 6.1 3.4 3.7 2.4 3.0 3.3 2.3 2.3 3.6 5.6 6.0 5.9 5.0 6.4 9.8 11.3 12.4 11.7 11.2 11.2 10.3 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 4.9 7.8 9.5 5.9 3.7 1.6 2.4 3.5 2.4 3.1 3.4 1.5 3.0 1.8 1.7 2.9 3.0 2.7 8.9 7.3 6.9 8.5 9.8 10.5 9.8 8.8 8.3 7.2 6.3 6.1 5.6 4.9 5.2 5.0 4.8 4.7 (c) How would you describe the relationship between inflation and unemployment between 2009 and 2020.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter21: Unemployment

Section: Chapter Questions

Problem 30CTQ: Using the definition of the unemployment rate, is an increase in the unemployment rate necessarily a...

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