Global Economy: Real GDP Growth, Inflation Rate, and Unemployment Rate

Running head: GLOBAL ECONOMY
Global Economy
Name of the student
Name of the University
Author’s Note

1GLOBAL ECONOMY
Table of Contents
Answer 1.1.......................................................................................................................................2
Answer 2:.........................................................................................................................................8
2.1................................................................................................................................................8
2.2................................................................................................................................................8
2.3................................................................................................................................................9
2.4................................................................................................................................................9
2.5................................................................................................................................................9
2.6..............................................................................................................................................10
2.7..............................................................................................................................................10
Answer 3:.......................................................................................................................................11
3.1..............................................................................................................................................11
3.2..............................................................................................................................................11
3.3..............................................................................................................................................11
3.4..............................................................................................................................................12
3.5..............................................................................................................................................12
3.6..............................................................................................................................................12
References:....................................................................................................................................13

2GLOBAL ECONOMY
Answer 1.1
1) Rate of growth of real GDP for UK, Australia and Greece
Real GDP growth refers to themarket value of final products and services produced
within the economy during a specific year adjusted for inflation (Salvatore 2013). It is also
referred ton as real economic growth rate, which provide proper measure that is not distorted by
deflation or inflation (Brueet al. 2014). The real GDP growth rate for all the three countries
reflect that the growth rate declined during the global financial crisis that was during the period
2008-2009.
The real GDP growth rate of Australia reflects that the economic growth of this nation
had been quite stable over the last twelve years. The global financial crisis during the period
2008-2009 affected this nation slightly, thereby keeping the growth rate positive. This is shown
in the figure given below-
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
2.83
3.77 3.65
1.92 2.05
2.45
3.89
2.63 2.55 2.35
2.82
1.95
REAL GDP GROWTH RATE OF AUSTRALIA
REAL GDP GROWTH RATE OF AUS...
YeAR

3GLOBAL ECONOMY
The real GDP growth rate of UK hadbeen quite stable after the GFC. The GDP growth
rate of UKhad shown negative value during the recessionary period (2008-2009), which
highlights that the economic growth declined at high rate. After this period, the UK economy
recovered and thus economic performance of this country improved
. This is shown in the graph below-
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
2.45 2.35
-0.47
-4.18
1.69 1.45 1.48 2.05
3.05
2.34 1.93 1.78
REAL GDP GROWTH RATE OF UK
REAL GDP GROWTH RATE OF UK
YEAR
During the year 2006-2017, the real GDP growth rate of Greece fluctuated at a high rate.
The real economic growth rate of this country had shown negative value during the period 2008-
2013. The growth rate became positive during the year 2014 but again went negative during
2015 and 2016. However, the GFC had adversely affected this economy even after the year 2009
for which the economy has been struggling to recover from this at present. The figure below
reflects the economic performance of Greece over the last twelve years.