Answered: Jamaica Unemployment Rate 2016 - 2020…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Jamaica Unemployment Rate 2016 - 2020
2016	13.19%
2017	11.63%
2018	9.1%
2019	7.72%
2020	8.4%

Jamaica Economic Growth Rate 2016 - 2020
2016	1.5%
2017	0.68%
2018	1.83%
2019	0.97%
2020	-10.05%

UK Unemployment Rate 2016 - 2020
2016	4.81%
2017	4.33%
2018	4%
2019	3.74%
2020	4.34%

UK Economic Growth Rate 2016 - 2020
2016	1.7%
2017	1.7%
2018	1.3%
2019	1.4%
2020	-9.8%

Use the above information to

(1). Prepare a table and line graph showing showing the unemployment and economic growth rate for Jamaica and the UK for the last 5 years. Examine the relationship observed between the two countries.

(b). Identify THREE public policies that can stimulate employment and facilitate economic growth in an economy.

(c). Use examples to clearly illustrate how EACH policy can stimulate employment and facilitate economic growth Jamaica.

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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