(a) examine the data for Jamaica 2009 - 2018. What relationship (positive, Negative, none) do you OBSERVE between
(i)
(ii) economic growth and inflation
(iii)
Jamaica data (year 2009 - 2018)
| 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | |
|
unemployment rate |
11.36 | 12.37 | 12.70 | 13.93 | 15.25 | 13.74 | 13.51 | 13.19 | 11.63 | 9.10 |
| inflation rate | 9.59 | 12.61 | 7.56 | 6.89 | 9.34 | 8.27 | 3.69 | 2.35 | 4.38 | 3.74 |
| Economic rate | -4.35 | -1.46 | 1.73 | -0.61 | 0.52 | 0.69 | 0.92 | 1.38 | 1.00 | 1.89 |
(b). rank three economic variables from most important to least important. Provide one relevant reason to justify your selection for EACH of the three position
(i.e. a reason why each variable is placed at the position 1, 2 and 3)
| Rank | Variable | justification |
| 1 | ||
| 2 | ||
| 3 |
(c). "Many believe that the main objective of government economic policy should be to increase productivity and economic growth"
Using the data above and economic knowledge, critically evaluate this statement by providing THREE reasons against. Ensure that you provide a RELEVANT real world example from Jamaica to support each pont.
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