Question 3

Discuss the importance of understanding GDP growth, inflation, and unemployment as indicators of a country's economic performance. Then evaluate the data provided below [Table 1 - Economic Indicators] on these key economic indicators and discuss which of the two countries (United Kingdom and Sweden) shows better economic performance and why.

(Use approximately 400 words for this question)

Table 1 - Economic Indicators
	United Kingdom	Sweden
Years	GDP growth	Rate of inflation	Rate of unemployment	GDP growth rate	Rate of Inflation	Rate of unemployment
2011	1.46	3.86	8.04	3.20	2.96	7.80
2012	1.47	2.57	7.88	-0.59	0.89	7.98
2013	1.89	2.29	7.52	1.19	-0.04	8.05
2014	2.99	1.45	6.11	2.66	-0.18	7.95
2015	2.62	0.37	5.30	4.49	-0.05	7.43
2016	2.26	1.01	4.81	2.07	0.98	6.99
2017	2.13	2.56	4.33	2.57	1.79	6.72
2018	1.65	2.29	4.00	1.95	1.95	6.36
2019	1.67	1.74	3.74	1.99	1.78	6.83

Source: World Development Indicators | DataBank (worldbank.org)