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Asap please 1. With the nominal and real GDP find the implicit price deflator. Compute the annual rate of change (inflation) in prices between 1960
Asap please
1. With the nominal and real GDP find the implicit price deflator. Compute the annual rate of change (inflation) in prices between 1960 and 1970, and all decades subsequently until 2020. Compute also the overall inflation between 1960 and 2020. In which decade was inflation higher? 2. Suppose that a worker made $15,000 in 1960. Using the implicit price deflator as a price index, calculate what would be the equivalent income in 2020. 3. Using the real GDP data, calculate average rates of growth for each decade starting in 1950. Do the same for labor productivity, the ratio of output (GDP) to employment. In which decades were growth and productivity growth higher? 4. Find the data on unemployment rate for the civilian labor force and the participation rate since early 2000s. Compare that measure of unemployment with alternative measures (e.g. unemployment rates by race, gender and ethnicity, or measures that include those marginally attached to the labor force). What does the participation rate and these other measures suggest about the official unemployment measureStep by Step Solution
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