Year	Rate of inflation (%)	GDP Per Capita (US $)
1975	15.16	7005.91
1976	13.32	7489.59
1977	12.31	7778.16
1978	8.00	8255.74
1979	9.12	9297.33
1980	10.14	10211.84
1981	9.49	11854.59
1982	11.35	12788.55
1983	10.04	11538.40
1984	3.96	12454.55
1985	6.73	11459.18
1986	9.05	11384.94
1987	8.53	11645.45
1988	7.22	14279.16
1989	7.53	17828.05
1990	7.33	18243.47
1991	3.18	18855.76
1992	1.01	18604.19
1993	1.75	17667.19
1994	1.97	18079.38
1995	4.63	20358.33
1996	2.62	21904.29
1997	0.22	23509.42
1998	0.86	21345.97
1999	1.48	20558.96
2000	4.46	21697.71
2001	4.41	19527.32
2002	2.98	20117.79
2003	2.73	23492.41
2004	2.34	30513.94
2005	2.69	34081.00
2006	3.56	36117.49
2007	2.33	41001.14
2008	4.35	49654.91
2009	1.77	42783.32
2010	2.92	52087.97
2011	3.30	62574.15
2012	1.76	68027.84
2013	2.45	68156.63
2014	2.49	62511.69
2015	1.51	56707.02
2016	1.28	49881.76
2017	1.95	53934.25
2018	1.91	57180.78
2019	1.61	54875.29
2020	0.85	51680.32
2021	2.86	59934.13

Themajorityofpeople aroundtheworld areprofoundlyimpacted byinflationsinceitreduces thepurchasingpowerofcurrency.Hence,researcherstrytoinvestigatethelinkbetween inflationandfactors suchasinterest rate,GDPgrowth rate,unemployment rate andGDPper capita.

Sheet 1 in the Data set (Group Assignment T2 2022) shows data related to the Australian inflation rate andGDPper capita from1975 -2021.

Youarerequired to:

a. Draw a suitable graph to show the relationship between inflation and per capita GDP and justify theusage oftheselected charttype.

b. Criticallyreviewtheobserved relationshipbetween thosetwovariablesandcomment on keyfluctuationsortrends.Alsocommentontheirlinks withthemajoreconomicmilestonesintheAustralianeconomyoverthe1975-2021period