Question
a. Classify each of the following items as a final good or service or an intermediate good or service and identify each item as a
a. Classify each of the following items as a final good or service or an intermediate
good or service and identify each item as a component of consumption
expenditure, investment, or government expenditure on goods and services:
i. Banking services bought by a student.
ii. New cars bought by Herts, the car rental firm.
iii. Newsprint bought by the National post.
iv. A new limo bought by prime minister.
v. New house bought by Alanis Morissette.
b. Statistics Canada reported the following data for July 2014:
Labor force participation rate: 67.4 percent
Working-age population: 29.0 million
Employment-to-population ratio: 62.5
i. Labor Force.
ii. Employment
iii. Unemployment rate.
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