The two major problems facing the economic development of every country are a high unemployment rate and a significant rise in inflation for a prolonged period of time. Answer: The relationship between the unemployment rate and economic growth in a country. The relationship between the inflation rate and economic growth in a country. Comment regarding the two expressions presented at the end and the possible relationship with particular situations that affect the economic development of a country. (The 2 expressions ar
The two major problems facing the economic development of every country are a high
- The relationship between the unemployment rate and
economic growth in a country. - The relationship between the inflation rate and economic growth in a country.
- Comment regarding the two expressions presented at the end and the possible relationship with particular situations that affect the economic development of a country.
(The 2 expressions are:
One of the benefits of unemployment is that it allows for higher quality job search and promotes economic efficiency, but it increases the unemployment rate and creates economic recession.
Unanticipated high inflation redistributes society's income, diminishes the ability to make long-term plans, and forces individuals, governments, and businesses to carefully evaluate the
A prolonged period of weak or negative real GDP (output) growth that is accompanied by a noticeably higher unemployment rate is known as a recession. During a recession, a lot of other economic activity indices are similarly weak.
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