(a) Explain what GDP means. Then,pickingany country of your choice:
i. 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 2017, 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:
i. 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.
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