Year 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Unemployment Rate Inflation rate % % 8.24 8.24 8.28 8.31 8.35 8.24 7.58 7 6.60 9.0 -1.10 0.92 1.60 1.30 0.51 1.20 -0.86 0.66 1.15 0.27 Economic growth rate% -0.45 1.26 -0.11 3.86 4.53 4.09 3.37 0.11 -1.69 1.10 (b) "Developing countries, like those in the Caribbean, have low economic growth and high unemployment because there is too much labour but not enough capital. Using the data above, your economic knowledge as well as additional research, critically evaluate this statement by providing THREE reasons for and THREE reasons against. Ensure that you provide a relevant real-world example from your assigned Caribbean country to support EACH point.

Year 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Unemployment Rate Inflation rate % % 8.24 8.24 8.28 8.31 8.35 8.24 7.58 7 6.60 9.0 -1.10 0.92 1.60 1.30 0.51 1.20 -0.86 0.66 1.15 0.27 Economic growth rate% -0.45 1.26 -0.11 3.86 4.53 4.09 3.37 0.11 -1.69 1.10 (b) "Developing countries, like those in the Caribbean, have low economic growth and high unemployment because there is too much labour but not enough capital. Using the data above, your economic knowledge as well as additional research, critically evaluate this statement by providing THREE reasons for and THREE reasons against. Ensure that you provide a relevant real-world example from your assigned Caribbean country to support EACH point.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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