Global Economy homework/assesment, inflation and unemployment 1 answer below »

  • November 18, 2021/

Hi i am desperatly seeking some guidance with this assesment peice of homework, that needs to be completed by the allocated time attached your consideration and effort will be greatly appreciated and rewarded.here are 3 following questions that need to be answered in detail about 500 each questions, alongside are some references to guide you through the homework. A reference list needs to be included aswell.Thank youQuestion
1.

What
do you understand by the terms ‘inflation’ and ‘unemployment? Identify their
main elements and causes. What is the relationship between inflation and
unemployment? Use diagrams to answer the question. 6
Marks

Question
2.

Collect
and graph for Australia and two other countries values of inflation rate and
unemployment rate over the last five years period. 4
Marks

Question
3.

What
do these statistics that you have reported in question 2 above, suggest about
Australia’s and other two countries performance in controlling inflation and
unemployment. Why have these countries had this inflation and unemployment
experience? 8
Marks

Presentation
and referencing 2
Marks

Here are some suggested websites for the
data:
(1)http://www.principalglobalindicators.org
This website is the most authoritative
source of data and the most useful and helpful website for your assignment.
Click on “Consumer prices” in the left-hand margin on the webpage. Here you
will find data on Australia and many other countries.
Click on “Unemployment rate” in the left-hand margin on the webpage. Here
you will find data on Australia and many other countries.
Next to “Principal Global Indicators” on
the toolbar, click on “Data Mapper”.
Data Mapper allows you to choose “Consumer prices” (which stands for
“Inflation”} for each of the three countries and then plots the data for the
past five years as three lines for each country in one graph.
Do the same thing for the “Unemployment rate” for the three
countries and plot them in one graph.
Remember, to contrast and compare inflation
and unemployment for all three countries, you should have one separate graph on
inflation for all three countries and another separate graph on the
unemployment rates for all three countries.
(2)http://www.dfat.gov.au/geo/fs/
On this webpage of the Australian
Department of Foreign Affairs and Trade (DFAT), click on “Australia” and the
other two countries of your choice. For each country there is a factsheet that
includes data on inflation for the
most recent five years.
One disadvantage: you only get data on inflation, not on
unemployment.
(3)https://www.cia.gov/library/publications/the-world-factbook/
On this webpage of the American Central
Intelligence Agency (CIA), in the dialog box in the upper right-hand side of
the webpage where you are asked to “Select
a country or location”, enter “Australia”. Then click on “Economy” and look
for entries under “Unemployment rate” and “Inflation”.
Do the same for the other two countries of
your choice.
One disadvantage: you only get data on the most recent two years.

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