Please show your working for all of them
2. (20 points) You're an economist working at TD bank, and you have just been told you have to meet with your boss's boss's boss to give her an update of the effect of the CovidIQ crisis on the Canadian labour market. Statistics Canada reports the following for February and March: February population 15-64: 3102?.7 February employment: 1391?.1 February unemployment: 11?3.4 March population 15-64: 31074 March employment: 17356.6 March unemployment: 1642.3 (a) Calculate the labour force for both months, and calculate the percent change between the months (b) Calculate the unemployment rate for both months, and calculate the percent change between the months (c) Calculate the employment rate for both months, and calculate the percent change between the months {d} Calculate the participation rate for both months, and calculate the percent change between the months 3. (20 points, true story, made up numbers) You're a senior economist work ing at the IMF (making $200,000 USD, tax free}, and you have just been told you have to y to a country on the cusp of a civil war for two weeks to complete an Article 4 mission. Once you get there you realize they have not constructed GDP. The economy is under a embargo with no trade or foreign nancial ows. You get the below data based on agricultural, manufacturing and retail sectors. As soon as you get all the data, tanks roll up to your hotel and UN ofcials evacuate you out the back door to the airport and you y back to D.C.. Once back you calculate and report GDP for your Article 4 report using the following data: Agricultural sector NIanufacturing sector Total Output $40.0 Total Output $50.0 Wages $10.0 Cost of agricultural goods $24.0 Interest on Loan $1 Wages $3.0 Indirect Taxes $3 Indirect Taxes $3.0 Consumers Government {MHtary} Wage Income $20I Tax Revenue $1] Interest Income $1 Wages $11 Prots $23.0 Taxes $2.0 (a) Calculate GDP based on the expenditure method. (b) Calculate GDP based on the income method. (c) Calculate GDP based on the value added method. 4. (20 points) Suppose that the consumer's preferences are given by U02, I) = 2:5 + 21% where c is the level of consumption and l is leisure. The consumer has to allocate 50 hours between leisure and labour. The real wage rate is 10 per hour and the real nonwage income is 160. Assume that there is no government. Note that Q5; 2 ci (a) Wlite the budget constraint of the household. (b) Solve for the tangency condition using the marginal rate of substitu tion MR3\
