1. The table below shows the economic growth rate in Grenada and Canada.YearsGrenada Economic Growth Rate %Canada Economic Growth Rate %20156.440.6620163.741.0020174.443.0420184.142.4320191.981.862020-11.23-5.40a. Construct a line graph for each country.b. Examine the relationship observed between the two countries and explain the economic growth rate in comparison of the two countries.

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Answered: The table below shows the economic…

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter16: Economic Growth

Section: Chapter Questions

Problem 6E

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1. The table below shows the economic growth rate in Grenada and Canada.

Years	Grenada Economic Growth Rate %	Canada Economic Growth Rate %
2015	6.44	0.66
2016	3.74	1.00
2017	4.44	3.04
2018	4.14	2.43
2019	1.98	1.86
2020	-11.23	-5.40

a. Construct a line graph for each country.

b. Examine the relationship observed between the two countries and explain the economic growth rate in comparison of the two countries.

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

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