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EC140 CH.4-7 Review (#1 Midterm) Questions with accurate answers [verified] Graded A+{
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Cyclical unemployment is associated with which of the following features of the labour market - Answers-An output level different from the economy's potential output In December 2022, Ontario's working age (15+) population included 7,748,000 people that were classified asemployed, 366,000 people that were unemployed, and 4,487,000 people that were not in the labour force.Among working age people, the employment rate in Ontario was approximately - Answers-61.5% If nominal national income increased by 30% over the past five years, while real national income increased by 10%, then - Answers-The price level has increased by approxiamtely 20% Price level = nominal national income - real national income (30% - 10% = 20%)
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ec140 ch4 7 review 1 midterm questions with ac
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economic booms can cause problems as well as creat
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because resources are scarce individuals are requ
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price level nominal national income real natio
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