What phase of the business cycle do you think the economy is in now? WHY? You must provide an answer based on terms or indicators discussed in class. What was the unemployment rate prior to the national shutdown in March 2019? What was the highest unemployment rate in Canada over the duration of the pandemic? What is the inflation or deflation rate now? If the economy is functioning at an unemployment rate under the natural rate what kind of output gap do you expect? If there is 7.5 percent cyclical unemployment, how much do you expect GDP to fall below its potential?
You must be thorough (not repetitive) in your answer. Fully explain your choice and why you made that choice. All answers must be placed in the space provided.
On the basis of recent news reports and our class lessons and discussions:
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Your answer: |
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What phase of the business cycle do you think the economy is in now? WHY? You must provide an answer based on terms or indicators discussed in class.
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What was the
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What was the highest unemployment rate in Canada over the duration of the pandemic?
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What is the inflation or deflation rate now?
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If the economy is functioning at an unemployment rate under the natural rate what kind of output gap do you expect? |
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If there is 7.5 percent cyclical unemployment, how much do you expect |
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