Expansion and deflation in Argentina The spreadsheet provides information about the economy in Argentina Column A is the year, Column B is real GDP in billions of 2000 pesos, and column C is the price...

Expansion and deflation in Argentina

The spreadsheet provides information about the economy in

Argentina Column A is

the year, Column B is real GDP in billions of 2000 pesos,

and column C is the price

level

A B C

1 1997 277 1056

2 1998 288 1038

3 1999 278 1019

4 2000 276 1029

5 2001 264 1018

6 2002 235 1329

7 2003 256 1468

8 2004 279 1604

9 2005 305 1745

10 2006 331 1980

11 2007 359 2261

12 2008 384 2677

a) In which years did Argentina experience inflation? In

which year did it experience deflation?

b) In which years did recessions occur? In which years did

expansions occur?

c) In which years do you expect the unemployment rate was

highest? Why?

d) Do these data show a relationship between unemployment

and inflation in

Argentina?