Word Print P Find EP Immersive Reader Translate ECON 1011X: Course syllabus & Question 4 mhaghiri@mta.ca Fri S/8/2020 341 PM Consider the macrocconomic data shown below for an economy. To: Irfan Islam Cc mhaghiri@mta.ca Real GDP (billions of S) Output Gap (% of potentia Unemployment Re (% of labor foree) ECON 1011X Course ID Year Actual Potential 177 KB 2011 1168 1188 11.1 ECON 1011X Assign 1 20 2012 1184 1196 10.2 28 KB 2013 1197 1205 9.1 2014 1211 1215 8.3 2015 1225 1225 7.6 ECON 1011X Assign 2 20 2016 1240 1236 7.3 63 KB 2017 1253 1247 7.1 2018 1262 1258 7.3 2019 1270 1270 7.6 ECON 1011X Assign 3 201 63 KB 4.1 Compute the output gap as a percentage of the potential output for each year. ECON 1011X Assign 4 2019 65 KB 4.2 In which years the economy has a recessionary gap? A 5 attachments (396 KB) Download all Save all to OneDrive-Mount Allison University 43 In which years the economy has an inflationary gap? Hi there, 4.4 In which years the economy likely has thec most unused capacity? Explain. Co X O Parap MInbox MInvitat Bit X Towfic Sign in Applic OJames Coron How O Pa X 88 autlook. office365.com/mail/search/id/AAQKADBKOGYXOWMSLWM1NGQINGVHNC04ZjgxLWQXNDkxYmVjYZYSOQAQAAgN47TJhFdCmeGXBExSq0Q%3D/sxs/AAMKADBKOGYXC O O macesoncinics rd ECON 1011X Assign 1 2019 20f.docx Edit and reply I Download O Save to OneDrive GHide email H Print P Find EF Immersive Reader A Translate ECON 1011X: Course syllabus & 4 assignments 4.4 In which ycars the economy likely has the most unused capacity? Explain. mhaghiri@mta.ca S/8/2020 341 PM To: Irfan Islam Cc mhaghiri@mta.ca 4.5 In which years the economy is observing excess demand for factors of production? 4.6 Explain how GDP can exceed potential GDP. pdr ECON 1011X Course ID 2019... 177 KB 4.7 What is the unemployment rate when this economy is at "full employment"? What kind of unemployment exists at this time? ECON 1011X Assign 1 2019 2.. 28 KB ECON 1011X Assign 2 2019 2... 63 KB ECON 1011X Assign 3 2019 2... 63 KB ECON 1011X Assign 4 2019 2 UCH SPLAY Bit X O Towfic Minita MInbox X Parap i cutlook. office365 .com/miail/search/id/AAQKADBKOGYXOWM5LWM1NGQtNGVhNC04ZjgxLVWQxNDI O Save to OneDrive ECON 1011X Assign 1 2019 20f.docx Edit and reply Download EP Immersive P Find H Print Question 5 The list below provides some national income figures for Econoland. All figures are in millions of dollars. Wages and salaries Interest income Personal consumption Personal saving Personal income laxes 5000 200 3900 1100 200 Business profits Indirect taxes Subsidies Government purechases Exports Imports Net private investment Depreciation 465 175 30 1000 350 390 950 150 5.1 Using the expenditure approach, what is the value of GDP for Econoland? Show all your operations 5.2 Using the income approach, what is the value of GDP for Econoland? Show all your operations. 531L Econoland an exporter or an importer? here to search GIVE FEEDBACK World's 1st Ultra-Low-Profile Mechanical Keyboard