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Shakeem Stewart University of Technology ECO1004: Elements of Economics Teacher March 22, 2021
Shakeem Stewart University of Technology ECO1004: Elements of Economics Teacher March 22, 2021
Shakeem Stewart
University of Technology
Teacher
a)
i) List real GDP ($) figures for the past ten (10) years.
b)
i) Provide growth rates of GDP over the past ten (10) years.
c)
ii) Who were the past two (2) governors of the Bank?
d)
i) Use a graph to display the exchange rates (in $US) over the past ten (10) years.
Real GDP at Constant National Prices for Jamaica, Millions of 2017 U.S. Dollars
25,000.00
24,500.00
Millions of 2017 U.S. Dollars
24,000.00
23,500.00
23,000.00
22,500.00
22,000.00
21,500.00
1 1 1 1 1 1 1 1 1 1 1
-0 -0 -0 -0 -0 -0 -0 -0 -0 -0 -0
- 01 - 01 - 01 - 01 - 01 - 01 - 01 - 01 - 01 - 01 - 01
09 10 11 12 13 14 15 16 17 18 19
20 20 20 20 20 20 20 20 20 20 20
3.00
2.00
1.00
GDP Growth (%)
0.00
-1.00
-2.00
-3.00
-4.00
-5.00
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Year
ii) Who were the past two (2) governors of the Bank?
i) Use a graph to display the exchange rates (in $US) over the past ten (10) years.
$140.00
$120.00
$100.00
$80.00
$60.00
$40.00
$20.00
$0.00
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
YEAR
From the graph for the period 2010 to 2020 in can be said that the exchange rate and the years
have a direct relationship as the rate is increasing with the years, except for 2010 to 2011. The
highest increase was from 2012 to 2013 where the USD increased by $12.09 from $88.80,
representing a 14% increase. The smallest increase for the period was 2017 to 2018 which was
only $1.36 USD more . From the graph for the period 2010 to 2020 it can be stated that the
Jamaican Dollars is devaluing and hence indicating that the Jamaican economy is weak and lack
substantial growth