Macroeconomic information for the economy of Anchovy is given below:
?
a. What was the growth rate of average labour productivity in Anchovy between 2000 and 2001?
b. What was the inflation rate in Anchovy between 2000 and 2001?
c. What was the unemployment rate in 2000? In 2001?

Question

Macroeconomic information for the economy of Anchovy is given below:
?  
a. What was the growth rate of average labour productivity in Anchovy between 2000 and 2001?
b. What was the inflation rate in Anchovy between 2000 and 2001?
c. What was the unemployment rate in 2000? In 2001?

Quizplus · Accepted Answer

The Answer is a. Average labour productivity: 2000: 8000/700 = 80/7; 2001: 9000/800 = 90/8;growth rate = [(90/8)/(80/7)] - 1 = -.016 = -1.6%
b. Inflation rate: (9/8) - 1 = .125 = 12.5%
c. Unemployment rates: 2000: 70/770 = .091 = 9.1%; 2001: 100/900 = .111 = 11.1%

Macroeconomic Information for the Economy of Anchovy Is Given Below