Prepare a line graph from the table below and answer the following question. (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? Use references to support your answer. 2016 2017 2018 2019 2020 Unemployment rate 4.12 3.75 3.38 3.14 4.31 Economic growth rate 2.23 2.68 1.08 1.05 -4.57
Prepare a line graph from the table below and answer the following question. (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? Use references to support your answer. 2016 2017 2018 2019 2020 Unemployment rate 4.12 3.75 3.38 3.14 4.31 Economic growth rate 2.23 2.68 1.08 1.05 -4.57
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Prepare a line graph from the table below and answer the following question.
(i)What trends do you observe in the
(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? Use references to support your answer.
| 2016 | 2017 | 2018 | 2019 | 2020 | |
| Unemployment rate | 4.12 | 3.75 | 3.38 | 3.14 | 4.31 |
| Economic growth rate | 2.23 | 2.68 | 1.08 | 1.05 | -4.57 |
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