Complete a table showing the unemployment rate, inflation rate and economic growth rate for 2009 – 2018 for Trinidad and Tobago and illustrate on a line graph. Note: ONE graph should be done showing all three variables. (a) Examine the data for Trinidad and Tobago from 2009 to 2018. What relationship (positive, negative, none) do you observe between (i) economic growth and unemployment, (ii) economic growth and inflation, (iii) unemployment and inflation over the period? Justify your response. (b) Rank the three economic variables from most important to least important. Provide one relevant reason to justify your selection for each of the three positions. (I.e. a reason why each variable is placed at position 1, 2 and 3.)
Complete a table showing the unemployment rate, inflation rate and economic growth rate for 2009 – 2018 for Trinidad and Tobago and illustrate on a line graph. Note: ONE graph should be done showing all three variables. (a) Examine the data for Trinidad and Tobago from 2009 to 2018. What relationship (positive, negative, none) do you observe between (i) economic growth and unemployment, (ii) economic growth and inflation, (iii) unemployment and inflation over the period? Justify your response. (b) Rank the three economic variables from most important to least important. Provide one relevant reason to justify your selection for each of the three positions. (I.e. a reason why each variable is placed at position 1, 2 and 3.)
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
Complete a table showing the unemployment rate, inflation rate and economic growth
rate for 2009 – 2018 for Trinidad and Tobago and illustrate on a line
graph.
Note: ONE graph should be done showing all three variables.
(a) Examine the data for Trinidad and Tobago from 2009 to 2018. What relationship
(positive, negative, none) do you observe between (i) economic growth and
unemployment, (ii) economic growth and inflation, (iii) unemployment and
inflation over the period? Justify your response.
(b) Rank the three economic variables from most important to least important.
Provide one relevant reason to justify your selection for each of the three
positions.
(I.e. a reason why each variable is placed at position 1, 2 and 3.)
Transcribed Image Text:(L.e. a reason why each variable is placed at position 1, 2 and 3.)
Rank
Variable
Justification
1
3
Transcribed Image Text:Relationship
Justification
Variables
(i) economic growth and
unemployment
(ii) economic growth and
inflation
(iii) unemployment and
inflation over the period
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