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A2. Great Southern Land's working age population is 20 million. There are 1 million unemployed and 9 million employed. GDP is $90 billion. Inflation is
A2. Great Southern Land's working age population is 20 million. There are 1 million unemployed and 9 million employed. GDP is $90 billion. Inflation is 1 per cent. What is the participation rate? (1 mark) What is the unemployment rate? (1 mark) What is labour productivity? (1 mark) How would you characterise the economy? (1 mark) Should the central bank increase or lower interest rates? (1 mark)
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Macroeconomics Principles and Applications
Authors: Robert e. hall, marc Lieberman
5th edition
1111397465, 9781439038970, 1439038988, 978-1111397463, 143903897X, 9781439038987, 978-1133265238
