The spreadsheet provides information about the economy in Argentina. Column A is the year, Column B is real GDP in billions of 2000 pesos, and Column C is the price level.
a. In which years did Argentina experience inflation? In which years did it experience deflation (a falling price level)?
b. In which years did recessions occur? In which years did expansions occur?
c. In which years do you expect the unemployment rate was highest? Why?
d. Do these data show a relationship between unemployment and inflation in Argentina?