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What is the relationship between the unemployment rate and the growth rate identified in the graphs below? (Hint: analyze the movements in the variables to
What is the relationship between the unemployment rate and the growth rate identified in the graphs below? (Hint: analyze the movements in the variables to properly obtain the relationship).
Line graph showing the Unemployment and Economic Growth Rate for Canada in the last 5 years 12.0% 10.0% 8.0% 6.0% Unemployment Rate 4.0% Percentages 2.0% - Economic 0.0% Growth Rate -2.0% 2016 2017 2018 2019 2020 -4.0% -6.0% -8.0% Year Canada Year Unemployment Rate % Economic Growth Rate % 2016 7.0% 1.0% 2017 6.3% 3.0% 2018 5.8% 2.4% 2019 5.7% 1.9% 2020 9.5% -5.3%Line graph showing the Unemployment and Economic Growth Rate for Jamaica in the last 5 years 15.0% 10.0% 5.0% - Unemployment Rate Percentages 0.0% 2016 2017 2018 2019 2020 - Economic -5.0% Growth Rate -10.0% -15.0% Year Jamaica Year Unemployedt Rate % Economic Growth Rate % 2016 13.2% 1.4% 2017 11.6% 1.0% 2018 9.1% 1.9% 2019 7.7% 0.9% 2020 8.4% -10.2%Step by Step Solution
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