Looking at the actual Comparative GDP of the Philippines in Figure 1 (Above figure), how would you describe its economic growth over time and what fiscal or monetary policy you can suggest to remedy the current economic condition of our country. Gross Domestic ProductYear-on-Year Growth RatesQ1 2018-2019 to Q3 2019-202010.06.36.75.75.45.00.0Q1 2018-2019 Q2 2018-2019 Q3 2018-2019 Q4 2018-2019 Q1 201 2020 02 2019-2020 Q3 2019-2020-0.7)-5.0-10.0-11.5-15.0-16.9-20.0Figure 1(Source: PSA 2020)

Period Growth rates(%) Q1 2018-19 5.7 Q2 2018-19 5.4 Q3 2018-19 6.3 Q4 2018-19 6.7 Q1…

Answered: Looking at the actual Comparative GDP…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Looking at the actual Comparative GDP of the Philippines in Figure 1 (Above figure), how would you describe its economic growth over time and what fiscal or monetary policy you can suggest to remedy the current economic condition of our country.

Gross Domestic Product
Year-on-Year Growth Rates
Q1 2018-2019 to Q3 2019-2020
10.0
6.3
6.7
5.7
5.4
5.0
0.0
Q1 2018-2019 Q2 2018-2019 Q3 2018-2019 Q4 2018-2019 Q1 201 2020 02 2019-2020 Q3 2019-2020
-0.7)
-5.0
-10.0
-11.5
-15.0
-16.9
-20.0
Figure 1
(Source: PSA 2020)

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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