Macroeconomic Information for the Economy of Anchovy Is Given Below

question 42

Essay

Macroeconomic information for the economy of Anchovy is given below:
$$\begin{array} { | l r r } \hline & 2000 & 2001 \\\hline \text { Output (pizzas) } & 800 \mathrm { C } & 9000 \\\hline \text { Employment (workers) } & 70 \mathrm { C } & 800 \\\hline \text { Unemployed (workers) } & 70 & 100 \\\hline \text { Labour force (workers) } & 77 \mathrm { C } & 900 \\\hline \text { Price per pizza } & \$ 8.0 \mathrm { C } & \$ 9.00 \\\hline\end{array}$$
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?

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Definitions:

Trade

The exchange of goods and services between individuals or entities, often in return for money.

Beneficial

Resulting in a good outcome or advantage.

Government Intervene

Actions taken by a government to influence or directly manage an economy or specific markets, often aiming to correct market failures, redistribute resources, or stabilize the economy.

Market

A place or mechanism where buyers and sellers interact to trade goods, services, or assets, determining prices through supply and demand.