BARBADOS AND CANADA ECONOMIC GROWTH RATE FOR 2016 TO 2020 NAME OF COUNTRY 2016 2017 2018 2019 2020 BARBADOS 2.449 0.475 -0.58 -0.096 -17.605 CANADA 1.001 3.04 2.43 1.861 -5.313 BARBADOS AND CANADA UMEMPLOYMENT RATE FOR 2016 TO 2020 NAME OF COUNTRY 2016 2017 2018 2019 2020 BARBADOS 9.72 9.86 10 10.1 12.79 CANADA 7 6.3 5.8 5.7 9.5 Examine the data on the economic growth and unemployment rate for 2016-2020 (i) What trends do you observe in the unemployment rate? In economic growth? (ii) Identify the relationship between Economic Growth and Unemployment, if any. (positive, negative, no relationship) Use the data to justify your choice. (iii) Does the relationship observed in part 2 satisfy the economists' view of the relationship between economic growth and unemployment?
BARBADOS AND CANADA
|
NAME OF COUNTRY |
2016 |
2017 |
2018 |
2019 |
2020 |
|
BARBADOS |
2.449 |
0.475 |
-0.58 |
-0.096 |
-17.605 |
|
CANADA |
1.001 |
3.04 |
2.43 |
1.861 |
-5.313 |
|
|
|
|
|
|
|
BARBADOS AND CANADA UMEMPLOYMENT RATE FOR 2016 TO 2020
|
NAME OF COUNTRY |
2016 |
2017 |
2018 |
2019 |
2020 |
|
BARBADOS |
9.72 |
9.86 |
10 |
10.1 |
12.79 |
|
CANADA |
7 |
6.3 |
5.8 |
5.7 |
9.5 |
|
|
|
|
|
|
|
Examine the data on the economic growth and
(i) What trends do you observe in the unemployment rate? In economic growth?
(ii) Identify the relationship between Economic Growth and Unemployment, if any.
(positive, negative, no relationship) Use the data to justify your choice.
(iii) Does the relationship observed in part 2 satisfy the economists' view of the
relationship between economic growth and unemployment?
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