SECTION III- BUSINESS CYCLE Question 6 (12 marks) Figure 8 plots the Price of Brent Oil and GDP of Saudi Arabia between 1990 and 2019 (https://fred.stlouisfed.org/series/DCOILBRENTEU) Figure 8: the price of oll between 1986 and 2020, In USD FRED - Gross Domestic Product for Saudi Arabia (left) Global price of Brent Crude (right) 01001050,005 TOO,00 01000,000 Current U.S. Dollars 710,001 100,100 109,000 000,006 1992 1994 1986 1943 2009 2002 20104 2006 2308 2010 2012 2014 2016 2018 2020 1:970 Sources International Monetary Fund; World Bank fred.stlouisfed.org Figure 9 plots important macroeconomic indicator SAUDI ARABIA "GDP growth rate" against change oil price for the SAUDI ARABIA economy between 1990 and 2018 Figure 9: Trends In GDP growth rate and change In oll price between 1986 and 2019