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Relationship between gdp growth-unemployment and inflation

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Reference no: EM133133653

Consider the following macroeconomic indicators for the countries shown.

 

GDP Growth

Unemployment

Inflation

 

2019 (%)

2020 (%)

2019 (%)

2020 (%)

2019 (%)

2020 (%)

Australia

2.2

-3.8

5.3

7.0

1.6

0.8

US

2.2

-3.7

3.6

15.0

1.8

0.6

UK

1.5

-11.0

3.9

5.0

1.8

0.8

China

6.1

1.8

3.6

3.8

2.9

2.9

(A) Briefly state the relationship between GDP growth, unemployment and inflation.

(B) Which country has the best macroeconomic indicators? Briefly explain why.

(C) Which country has the worst macroeconomic indicators? Briefly explain why.

Reference no: EM133133653

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