Explain why a fall in economic growth could lead to a rise in unemployment. Use a diagram to support your answer. The UK economy grew by 0.4% in the third quarter of 2015, figures show, less than previouslyestimated.The rate was revised down from 0.5% because the key services sector, which accounts for well over 70% ofUK economic activity, grew more slowly than had been thought.In annual terms, growth in the third quarter of the year was revised down to 2.1% from the previous estimateof 2.3%.The UK economy has been growing for 11 consecutive quarters.Adapted from www.bbc.co.uk/news/business/economyUK GDP growth, quarter on previous quarter%1.51.0L0.50.0--0.5-1.0-1.5-2.0-2.52003 20042005 200620072008200920102011201220132014 2015Source: ONSBBC

Economic growth: It is the measure of the rise in the production of goods and services over a…

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Explain why a fall in economic growth could lead to a rise in unemployment. Use a diagram to support your answer

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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