Task 4—GDP (≈100 words)
Research the GDP of your chosen country and provide figures for the latest year on how much each sector of the GDP (C, I, G and X-M) has contributed to the economy.
Which sector contributed the most to the GDP? Explain briefly why you think that sector was the highest contributor.
Create a pie chart to show the individual contributions of each sector.
Task 5—Business Cycles (≈100 words)
Identify which stage of the business cycle the economy of your chosen country is presently in. Explain your findings.
When did this country last experience a recession?
Task 6—Inflation (≈250 words)
Explain the price levels in your chosen country’s economy and state the current level of inflation.
In Task 2, you identified a product which was plentiful in supply. If there was an increase in production costs for this product or service, what would happen to its supply? Briefly describe this type of inflation.
Task 7—Unemployment (≈200 words)
What is the present level of unemployment in your chosen country? Identify and explain any changes in the unemployment levels over the past five years.
Plot the unemployment rates for the last five years on a line graph.
Task 8—International Trade (≈100 words)
Research and obtain information on your chosen country’s current account balance for the latest year. How much is the country’s current account balance?
What was the total value of exports from the country and imports into the country? Did the country have a trade surplus or trade deficit? Explain your answer.
Which country were most exports made to and which country did most imports come from?
What is the country’s current exchange rate against the US dollar? How has it changed over the past 12 months? Explain possible reasons for any changes.
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