1) How much richer was the average Canadian in 2014 than in 1994 (From National

balance sheet account, you need to have the value of consumer durables-non-financial assets given

in market prices)?

2) Show that consumption of durables is more variable relative to trend than consumption

of semi-durables, and consumption of semi-durables is more variable relative to trend than

consumption of nondurables and services. Speculate on why we observe these phenomena.

3) Plot the differences in unemployment rate of the US and Canada. What can explain(s) the

differences in unemployment rate of the US and Canada?