Documente Academic
Documente Profesional
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The World
CHAPTER 11
CHAPTER
Prepared by:
Fernando Quijano and Yvonn Quijano
Figure 1 - 1
The United States, 2003
1960-2000 1994-2000
(average) (average) 2001 2002 2003 2004
Output growth rate 3.2 3.9 0.5 1.9 3.0 4.4
Unemployment rate 6.1 4.9 4.8 5.8 6.0 5.5
Inflation rate 3.9 1.8 2.4 1.7 1.8 2.0
Output growth rate: annual rate of growth of output. Unemployment rate: average over
the year. Inflation rate: annual rate of change of the price level (GDP deflator).
Figure 1 - 2
Rate of Growth of
Output per Worker in
the United States Since
1960.
The average rate of
growth of output per
worker decreased in the
mid 1970s. It appears to
have increased again
since the mid 1990s.
Figure 1 - 3
The U.S. Budget Deficit,
Since 1990 (Ratio to
Output, in percent).
Figure 1 - 4
The European Union, 2003
Figure 1 - 5
Unemployment Rates:
Europe versus the United
States since 1960
The European
unemployment rate has
gone from being much lower
than that of the United
States to being much
higher.
Figure 1 - 6
Japan 2003
Figure 1 - 7
The Japanese Stock
Market Index since 1980
The large increase in
the index in the second
half of the 1980s was
followed by an equally
sharp decline in the
early 1990s.