(a) Explain what GDP means. Then, picking any country of your choice:
• Tabulate and graph the real and nominal GDP of the country over the last 20 years (If you are unable to get the data for 2015, don’t worry – you can use 20 years data ending even in 2012; however, you need 20 annual data points).
• ii. Calculate the annual GDP deflator – tabulate.
• iii. Calculate the annual growth rate of GDP – tabulate.
• iv. Offer a commentary on the economic growth recorded in the country over the observed period.
(b) Define unemployment and explain how the unemployment rate is determined? For the country you have chosen:
• Tabulate and graph the unemployment rate recorded over the observed period.
• ii. Offer a commentary on the unemployment rate observed in the country over the observed period.
(c) Explain what inflation means. For the country you have chosen:
• Tabulate and graph the inflation rate recorded over the observed period.
• ii. Offer a commentary on the inflation rate observed in the country over the observed period.
(d) Now present the inflation rate and the unemployment rate in the same
• Record your observations on the relationship between the inflation rate and the unemployment rate?
• ii. Are your observations aligned with the posited relationship between inflation and unemployment?
Your report should consist of a short executive summary (approximately 100 words), six sections – an introduction (wherein you will discuss what you are presenting in the report), followed by four distinct sections each covering, sequentially, the four questions above and a conclusion. You should also include a page listing the references. I expect you to know what an executive summary, an introduction and a conclusion section should include. You need to offer the source for all your tables. Failure to meet this standard will result in a fail grade for this assessment.