Here are some macroeconomic data for Canada for the years 2019 and 2020. Canadas output is real

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Here are some macroeconomic data for Canada for the years 2019 and 2020.

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Canada’s output is real GDP measured in constant Canadian dollars. Data are from the Federal Reserve Bank of St. Louis FRED database. Calculate each of the following macroeconomic variables for Canada, being sure to give units.

a. Average labor productivity in 2019 and 2020.

b. The growth rate of average labor productivity between 2019 and 2020.

c. The unemployment rate in 2019 and 2020.

d. The inflation rate between 2019 and 2020.

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Macroeconomics

ISBN: 9780137876037

11th Edition

Authors: Andrew B Abel

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Question Posted: Mar 30, 2024 10:00 AM

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Here are some macroeconomic data for Canada for the years 2019 and 2020. Canadas output is real

Question:

Output (constant dollar GDP) Employment 2019 $527 billion 2020 $500 billion 23.1 million workers 22.4 million workers 1.4 million workers 2.2 million Unemployed workers Total labor force 24.5 million workers 24.6 million workers Consumer Price Index 106.73 108.33

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Macroeconomics

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