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Analysing economic data - is there any good news

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Question: Analysing economic data - is there any good news?                         

The following are economic data for New Zealand in 2016 and in 2017.

  2016 2017
Unemployment rate 4.6 4.7
Inflation rate 0.65 1.85
Economic growth rate 4.2 3.8

Source: Reserve Bank of New Zealand. 2021.

Consider the data for 2016 and 2017 shown in the table above. Use your knowledge of the short-run AD-AS model to graph the changes in output and inflation between 2016 and 2017. Should the Reserve Bank of New Zealand (RBNZ) consider lowering interest rate as its monetary-policy stance to address the economic problems shown in the table and graph? Explain your answer.

Reference no: EM133390421

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