1. Macroeconomic information for the economy of Nauru is given below:

                                                                           2000         2001

                        Output (pizzas)                          7200         9200

                        Employment (workers)                720           820

                        Unemployed (workers)                  75           100

                        Price per pizza                          $8.20        $9.00

1. What was the growth rate (in %) of average labour productivity in Nauru between 2000 and 2001?

2. What was the inflation rate (in %) in Nauru between 2000 and 2001?

3. What was the unemployment rate (in %) in 2001?

Answer rating: 100% (QA)

To calculate the growth rate of average labor productivity we need to compare the output pizzas per ... View the full answer