Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Consider the following macroeconomic indicators for the countries shown. GDP Growth Unemployment Inflation 2019 (%) 2020(%) 2019(%) 2020(%) 2019(%) 2020(%) Australia 2.2 -3.8 5.3 7.0
Consider the following macroeconomic indicators for the countries shown.
GDP Growth | Unemployment | Inflation | ||||
2019 (%) | 2020(%) | 2019(%) | 2020(%) | 2019(%) | 2020(%) | |
Australia | 2.2 | -3.8 | 5.3 | 7.0 | 1.6 | 0.8 |
US | 2.2 | -3.7 | 3.6 | 15.0 | 1.8 | 0.6 |
UK | 1.5 | -11.0 | 3.9 | 5.0 | 1.8 | 0.8 |
China | 6.1 | 1.8 | 3.6 | 3.8 | 2.9 | 2.9 |
(A) Briefly state the relationship between GDP growth, unemployment and inflation. (2 marks)
(B) Which country has the best macroeconomic indicators? Briefly explain why. (2 marks)
(C) Which country has the worst macroeconomic indicators? Briefly explain why.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started