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The spreadsheet provides information about the economy in Argentina. Column A is the year, Column B is real GDP in billions of 2000 pesos, and Column C is the price level.
A B C1997 277 105.61998 288 103.81999 278 101.92000 276 102.92001 264 101.82002 235 132.92003 256 146.82004 279 160.42005 305 174.52006 331 198.02007 359 226.12008 384 267.7
a. In which years did Argentina experience inflation? In which years did it experience deflation (a falling price level)?
b. In which years did recessions occur? In which years did expansions occur?
c. In which years do you expect the unmployment rate was highest? Why?
d. Do these data show a relationship between unemployment and inflation in Argentina?
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