Year 2010 2011 2012 2013 2014 2015 Economic Growth (%) 2.7 1.7 1.3 2.7 2.5 1.9 Unemployment (%) 9.6 8.9 8.1 7.4 6.2 5.3 Examine the data on the economic growth and unemployment rate for 2010-2015 i) What trends do you observe In the unemployment rate? In economic growth? ii) Identify the relationship between Economic Growth and Unemployment, if any. (positive, negative, no relationship) Use the data to justify your choice. iii) Does the relationship observed in part 2 satisfy the economists' view of the relationship between economic growth and unemployment? Use references to support your answer.
Year 2010 2011 2012 2013 2014 2015 Economic Growth (%) 2.7 1.7 1.3 2.7 2.5 1.9 Unemployment (%) 9.6 8.9 8.1 7.4 6.2 5.3 Examine the data on the economic growth and unemployment rate for 2010-2015 i) What trends do you observe In the unemployment rate? In economic growth? ii) Identify the relationship between Economic Growth and Unemployment, if any. (positive, negative, no relationship) Use the data to justify your choice. iii) Does the relationship observed in part 2 satisfy the economists' view of the relationship between economic growth and unemployment? Use references to support your answer.
Chapter7: Inflation
Section: Chapter Questions
Problem 1SQ
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Data Analysis -
Question 1
|
Year |
2010 |
2011 |
2012 |
2013 |
2014 |
2015 |
|
Economic Growth (%) |
2.7 |
1.7 |
1.3 |
2.7 |
2.5 |
1.9 |
|
Unemployment (%) |
9.6 |
8.9 |
8.1 |
7.4 |
6.2 |
5.3 |
Examine the data on the economic growth and unemployment rate for 2010-2015
i) What trends do you observe In the unemployment rate? In economic growth?
ii) Identify the relationship between Economic Growth and Unemployment, if any. (positive, negative, no relationship) Use the data to justify your choice.
iii) Does the relationship observed in part 2 satisfy the economists' view of the relationship between economic growth and unemployment? Use references to support your answer.
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