Question: Consider the following table that contains some macroeconomic data for a particular economy. Assessment 4 - lndl Cw ' lawn l 111ml; 1

Consider the following table that contains some macroeconomic data for a particular economy.

Assessment 4 - lndl " " Cw\" ' lawn l 111ml; 1 l C O i elearningkbseduau Home > My Subjects ) ECOM4000T1 2021 > Assessment4- IndividualTest Question 5 Notyetanswered Marked out of10.00 V Flag question Quiz navigation Consider the following table that contains some macroeconomic data for a particular economy. ' 1 2 3 I 4 ' 7 8 9 I Economic Indicators 2020 2019 Finish attempt Real GDP Annual Growth Rate 4.80% 4.60% Time left 1:08:43 Working Age Population 11.2 million 11.3 million Employed Persons 1.5 million 1.5 million Unemployed Persons 1.2 million 1.1 million Consumer Price index (CPI) 108 115 (a) Calculate the unemployment rate for this economy for 2020. (3 marks) (b) Calculate the ination rate for this economy for 2020. (3 marks) (c) Given the GDP growth rate and your calculations in Parts (a) and (b), what stage of the business cycle do you think this economy is in? Explain your answer. (4 marks) 7. El a? .llAlelI 2: Ella

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