PART 2. Short Answers: (40/100 marks) Given the current statistics for the 3 macroeconomic goals and their recent performance since the beginning of the 2020-2021 Covid-19 economic crisis, answer the following questions in the area provided: 3019 4019 1Q20 2Q20 3020 4020 1Q21 2Q21 3021 4021 1022 2022 3022 1022 Feb.23 P Growth ( Rate X) 0.5 -2 9 0.S 12.1 43 3.9 3.1 4022 (2012-100) oflation Rate (X) 19 2.2 09 0.7 0.5 2,2 3.1 44 4.9 6.7 Feb.22 (2082-100) ent rate (x] 5.G 124 9.2 7.6 G.O (12m /change) Feb. 22 1. 3019, 4019, 1021 and 2021 are the closest combinations of Long-Run Equilibrium since the beginning of the Covid-19 crisis. Evaluate, in terms of macroeconomic sustainability, which of these periods was closer to a Sustainable Potential GDP and provide a short explanation. 2. From class discussions Distinguish between Long-Run Equilibrium (LRE) and General Macroeconomic Equilibrium (GME) 3. Given the most recent economic indicators for 4022+, evaluate the current economic situation in Canada in terms of LTE, GME and the GDP Gap. 4. Provide a short, educated recommendation (supported by economic arguments) on which type of economic policy and tools would be the most indicated to help the economy to return to a long and sustained general equilibrium, given the current actual GDP position