Consider the macroeconomic data for a particular economy reported in the following table. Variable 2021 2020 Consumption spending $76 billion $89 billion Investment spending $49 billion $47 billion Government spending $101 billion $97 billion Net exports (= exports - imports) $7 billion $8 billion Employed persons 18.5 million 18.3 million Unemployed persons 1.5 million 1.4 million Working age population 29.8 million 29.7 million Total population 31 million 31 million (or 0.031 billion) (or 0.031 billion) CPI 128.6 128.4 (a) Calculate GDP and the GDP growth rate for this economy for 2021. (3 marks) (b) Calculate the unemployment rate and the inflation rate for this economy for 2021. (4 marks) (c) Given your calculations in Questions (a) and (b), what stage of the business cycle is this economy most likely in? Briefly explain why