Model Answer
The graph given above shows the growth and decline in wages in Some Country over the period of 10 years between 1993 and 2003.
In 1993, the growth in wages was 2 percent. It doubles in year 1994 when the growth hits 4 percent. Over the next two years, there is a decline in wages. In 1997, the wages start rising slowly and reaches 4 percent. The percent growth in wages was the highest in 1998 when it reached 6 points. There is a sharp decline in wages between the years 1998 and 1999. Wages rise marginally between the years 1999 and 2000. Afterwards there is a steady decline. The percent growth in wages hits the lowest during the year 2002 when it was just 1 point. Since then there is a gradual rise in wages with year 2003 recording a percent growth of 2 points.
Overall, it can be seen that there is no steady pattern in the growth or decline of wages.
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