1. The table below show the Unemployment and Economic growth rate for the countries of Grenada and Canada. YearsGrenada Unemployment Rate %Grenada Economic Growth Rate %Canada Economic Growth Rate %Canada Unemployment Rate %2015296.440.666.92016253.741.0072017234.443.046.32018204.142.435.8201915.11.981.865.7202028-11.23-5.409.5a. Construct a line graph and discuss the relationship between Unemployment and Economic growth for each country.b. Compare the relationship between Unemployment and Economic growth between the two countries.

Economic growth of nation depends upon employment rate, GDP. There is inverse relation exist…

Answered: 1. The table below show the…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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1. The table below show the Unemployment and Economic growth rate for the countries of Grenada and Canada.

Years	Grenada Unemployment Rate %	Grenada Economic Growth Rate %	Canada Economic Growth Rate %	Canada Unemployment Rate %
2015	29	6.44	0.66	6.9
2016	25	3.74	1.00	7
2017	23	4.44	3.04	6.3
2018	20	4.14	2.43	5.8
2019	15.1	1.98	1.86	5.7
2020	28	-11.23	-5.40	9.5

a. Construct a line graph and discuss the relationship between Unemployment and Economic growth for each country.

b. Compare the relationship between Unemployment and Economic growth between the two countries.

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

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