The following table shows a few aggregate variables for Canadafor 2017 and 2018.YearPopulationEmployedUnemployed201729,79118,3011,307129CPIReal GDP2,031,5322,063,439GDP, in million current dollars 2,178,432 2,223,144Interest rate1.75%1.75%Use the data in the table to determine the following:1. The unemployment rate in 2017Answer:201830,15418,5911,1491322. the labor force participation rate in 2017Answer:3. The inflation rate as measured by the implicit pricedeflator.Answer:4. The unemployment rate in 2018Answer:5. The labor force participation rate in 2018Answer:6. The inflation rate as measured by the CPIAnswer:7. Did the relative price of consumer goods in Canadaincrease, decrease or stay the same relative to the priceof other elements of GDP (government purchases,investment and exports)? Would you say the labormarket is improving or getting worse? Refer to specificstatistics in the table and those you have calculated.Answer:

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The following table shows a few aggregate variables for Canada for 2017 and 2018. Year Population Employed Unemployed 2017 29,791 18,301 1,307 129 CPI Real GDP 2,031,532 GDP, in million current dollars 2,178,432 Interest rate 1.75% Use the data in the table to determine the following: 1. The unemployment rate in 2017 Answer: 2018 30,154 18,591 1,149 132 2. the labor force participation rate in 2017 Answer: 4. The unemployment rate in 2018 Answer: 2,063,439 2,223,144 1.75% 3. The inflation rate as measured by the implicit price deflator. Answer: 5. The labor force participation rate in 2018 Answer: 6. The inflation rate as measured by the CPI Answer: 7. Did the relative price of consumer goods in Canada increase, decrease or stay the same relative to the price of other elements of GDP (government purchases, investment and exports)? Would you say the labor market is improving or getting worse? Refer to specific statistics in the table and those you have calculated. Answer:

The following table shows a few aggregate variables for Canada for 2017 and 2018. Year Population Employed Unemployed 2017 29,791 18,301 1,307 129 CPI Real GDP 2,031,532 GDP, in million current dollars 2,178,432 Interest rate 1.75% Use the data in the table to determine the following: 1. The unemployment rate in 2017 Answer: 2018 30,154 18,591 1,149 132 2. the labor force participation rate in 2017 Answer: 4. The unemployment rate in 2018 Answer: 2,063,439 2,223,144 1.75% 3. The inflation rate as measured by the implicit price deflator. Answer: 5. The labor force participation rate in 2018 Answer: 6. The inflation rate as measured by the CPI Answer: 7. Did the relative price of consumer goods in Canada increase, decrease or stay the same relative to the price of other elements of GDP (government purchases, investment and exports)? Would you say the labor market is improving or getting worse? Refer to specific statistics in the table and those you have calculated. 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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