Principles of Economics USA Case Study 2022

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PRINCIPLES OF ECONOMICS

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Contents
Introduction................................................................................................................................3
Tabulations.................................................................................................................................3
Impact on the economic growth for each of the countries.........................................................5
Comparison............................................................................................................................of 5
Impact of economic growth on inflation and unemployment....................................................7
Conclusion..................................................................................................................................8
Reference....................................................................................................................................9

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Introduction
The economic growth rate is among the major objectives of any government around the
world. The positive growth rate of the economy is not only a sign of running and a stable
economy, but it also shows the expected influence on the other major macroeconomic
variables such as inflation and the unemployment rate. The objective of the paper is to select
a group of countries and examine the nominal GDP growth rate over the period of 2006 to
2018. Subsequently, the paper will also present an analysis regarding the influence of the
nominal GDP growth rate on the inflation rate and the unemployment rate of the selected
countries. The countries that have been selected are Australia, Canada, New Zealand, and the
USA.
a)
Tabulations
Australia
Year Nominal GDP Inflation rate Unemployment rate Nominal growth rate
2006 1.17131E+12 3.555287737 4.782000065
2007 1.33937E+12 2.327611289 4.376999855 14.34820982
2008 1.65477E+12 4.35029855 4.234000206 23.54893677
2009 1.45665E+12 1.771117166 5.56099987 -11.97256891
2010 1.79944E+12 2.918340027 5.210999966 23.53223351
2011 2.19274E+12 3.303850156 5.080999851 21.85699619
2012 2.42746E+12 1.762780156 5.223999977 10.70432016
2013 2.47461E+12 2.449888641 5.662000179 1.942414933
2014 2.30395E+12 2.487922705 6.077000141 -6.896449252
2015 2.12216E+12 1.508366722 6.053999901 -7.890358183
2016 1.89789E+12 1.276990945 5.710000038 -10.56799782
2017 2.08831E+12 1.948647409 5.59100008 10.03342555
2018 2.25123E+12 1.911400944 5.297999859 7.801353442
Canada: