Question
Information: The two big problems facing the economic development of every country are a high unemployment rate and a significant rise in inflation for a
Information: The two big problems facing the economic development of every country are a high unemployment rate and a significant rise in inflation for a long period of time.
One of the benefits of unemployment is that it allows for a higher quality job search and promotes economic efficiency, but it increases the unemployment rate and creates economic recession.
Unforeseen high inflation redistributes society's income, diminishes the ability to make long-term plans, and forces individuals, governments, and businesses to carefully assess the purchasing power of their assets.
Answer the following questions with five or more sentences and 4 or more paragraphs:
1- Do a analysis regarding the relationship between the unemployment rate and economic growth in a country. 2- Do a analysis regarding the relationship between the inflation rate and economic growth in a country. 3- Give your opinion regarding the two expressions presented at the beginning and the possible relationship with particular situations that affect the economic development of a country.
References: McEachern, W.A. (2019). Macro econ: Principles of macroeconomics (6th ed.). Chapter 7: Unemployment and Inflation 7-1 Unemployment: Its Measure and Sources 7-2 Other Unemployment Issues 7-3 Inflation: Its Measure and Sources 7-4 Effects of Inflation Chapter 8: Productivity and Growth 8-1 The Theory of Productivity and Growth 8-2 Productivity and Growth in Practice 8-3 Other Issues of Technology and Growth
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