Question

GDP for 2011 = $2,178,766 GDP for 2017 = $2,568,727 The unemployment rate was In 2011...

GDP for 2011 = $2,178,766

GDP for 2017 = $2,568,727

The unemployment rate was

In 2011 = 12.4%

In 2017 = 12.8%

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Q: Write no more than 30 words (60 total) in order to compare between

a) The GDP in 2011 and 2017

b) The unemployment rates in 2011 and 2017

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P.S.: Oil might be a part of why the GDP increased, but I'd also like to mention other reasons like inflation and increase in population.

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Answer #1

a) THe GDP has been rised significantly during the period of 2011 to 2017. one of th main factor is the inflation and increase in population because a large population contributes to large workforce and hence therefore, large aggregate demand and larger output .

b) The unemployment rate in 2011 to 2017 was not either decrease or increase so much , it remain stable .one of the main reason is that, although the population increase but the economy growht which creates more employment and thus unemployment rate does not increase very much .

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