09 Jul Real Gross Domestic Product (Real GDP),
Your Group Assignment consists of the following task: Real Gross Domestic Product (Real GDP), inflation rate and unemployment are important indicators in measuring the economic performance of a country. In this assignment, you are required to choose a country and explain its economic performance. First, you will have to find and compile the data of Real GDP, unemployment rate and inflation rate from 1980 to 2010 for the chosen country. Based on the data from question (a), draw a table to show the data for the three variables. Draw also a line graph for Real GDP and the second line graph that shows the unemployment rate and inflation rate (both variables in the same second line graph). Explain the country’s macroeconomic experience of economic growth rate (based on Real GDP data), unemployment and inflation between 1980 and 2010. Your explanation can also include policies implemented by the government and/or central bank of the country to increase economic growth rate and to remedy unemployment and inflation, if any, or any other relevant information for the three variables. Additional information: (We Will Choose United States) Each group must consist of 3 – 5 members. All data are available in http://databank.worldbank.org/. e.g Real GDP = Gross Domestic Product (Constant price USD) Inflation rate = % Changes in Consumer Price Index (CPI) Unemployment rate = % of Unemployment (Total labour force)
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