Go to the World Bank's databases at the World DataBank website and select the World Development Indicators database. Choose a country of your interest from the Country menu and download its GDP growth and CPI inflation data for the years since 1980 by using the checkbox options under the Series and Time menus. (If these data are missing for the country that you have selected, please choose another country.)

Part 1

Put the two series into one graph, as in the last slide of the lecture video 3-2.4. Applying the Macroeconomic Model to the Analysis of US Economy.

Upload an image file of your graph below.

Part 2

Look at your graph and identify periods of high GDP growth (half a standard deviation or more above average for the entire length of the data) and negative GDP growth. Also, identify periods of high inflation (above 8 percent). Examine the relationship of GDP growth and inflation during the identified periods and figure out whether the country experienced an aggregate demand or aggregate supply shock. Additionally, try to read about the country online and see if you can identify the source of each shock.

Answer Part 2 in an essay of approximately 200 words.