For following three questions, use macroeconomic information given below:Year 2019Year 2020Output(Corn)People w/o JobsePeople w/o Jobs, but SearchingéPeople w/o Jobs, not SearchingePeople with JobsePrice per corn7000810070826071e1011700900$8a$94) What was the growth rate of average labor productivity from Year 2019 to Year 2020?«a. -10%b. -5%ec. 5%ed. 10%e5) What was the inflation rate between Year 2019 and Year 2020?a. 10.3%b. 12.5%c. 25.0%ed. 15.5%6) What was the unemployment rate in Year 2019 and Year 2020, respectively?+a. 3/38, 71/971b. 1/10, 41/450c. 3/35, 71/900-d. 1/70, 11/900-7) You may remember John Maynard Keynes said, "in the long run we are all dead." What is themost improper statement for Keynesian school?«a. In some cases, we need government intervention.“b. The market mechanism may not work well.c. In the long run, prices are not completely flexible.d. It is based on the experience of the Great Depression.“

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For following three questions, use macroeconomic information given below:“ Year 2020-e 8100 82 Year 2019 Output(Corn)² People w/o Jobs People w/o Jobs, but Searchinga People w/o Jobs, not Searching= People with Jobse Price per corn 7000 70- 60- 71e 10 700 11e 900 $92 $82 4) What was the growth rate of average labor productivity from Year 2019 to Year 2020?« a. -10%e b. -5% c. 5%e d. 10%e 5) What was the inflation rate between Year 2019 and Year 2020?“ a. 10.3% b. 12.5% c. 25.0% d. 15.5% 6) What was the unemployment rate in Year 2019 and Year 2020, respectively? a. 3/38, 71/971- b. 1/10, 41/450- c. 3/35, 71/900- d. 1/70, 11/900 Vou may remember John Mavnard Kevnes said "in the long run we are all dead » What is the

For following three questions, use macroeconomic information given below:“ Year 2020-e 8100 82 Year 2019 Output(Corn)² People w/o Jobs People w/o Jobs, but Searchinga People w/o Jobs, not Searching= People with Jobse Price per corn 7000 70- 60- 71e 10 700 11e 900 $92 $82 4) What was the growth rate of average labor productivity from Year 2019 to Year 2020?« a. -10%e b. -5% c. 5%e d. 10%e 5) What was the inflation rate between Year 2019 and Year 2020?“ a. 10.3% b. 12.5% c. 25.0% d. 15.5% 6) What was the unemployment rate in Year 2019 and Year 2020, respectively? a. 3/38, 71/971- b. 1/10, 41/450- c. 3/35, 71/900- d. 1/70, 11/900 Vou may remember John Mavnard Kevnes said "in the long run we are all dead » What is the

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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