MGEA06H3 Midterm: Midterm - Lecture Study Notes

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MGEA06H3 Full Course Notes
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MGEA06H3 Full Course Notes
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unemployment rate is never negative or zero. unemployment rate is not constant; changes from time to time. Answer: there are frictions in the economy, which include: Regions some do well, others do not. Normal movements people move in and out of the labour market. discouraged workers are not counted in the labour force. consumer price index (cpi) it measures how fast the prices of goods and services bought by a typical canadian household change over time. gdp deflator it measures how fast the prices of goods and services produced within canada change over time. In the base year, the index = 100. It reduces the purchasing power of money (the amount of goods and services that can be purchased with a unit of money). The same amount of money buys fewer goods. It reduces the real value of anything whose price is fixed in money terms. www. notesolution. com.

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