According to the Canadian Centre for Policy Alternatives (CCPA),in 1994,Canada's

question 63

Multiple Choice

According to the Canadian Centre for Policy Alternatives (CCPA) ,in 1994,Canada's output gap was - 12.4% of potential output.In the same year,the unemployment rate was 10.3%.Okun's law implies that,in 1994,Canada's natural rate of unemployment was

• A) 8.1%.
• B) 5.1%.
• C) 6.1%.
• D) 7.1%.
• E) 4.1%.

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Definitions:

Level Of Output

The total quantity of goods or services produced by a firm or economy at a given time, often analyzed to assess economic performance or business productivity.

Graph

A visual representation of data, which showcases the relationship between two or more variables through lines, bars, or other symbols.

Difference

The result of subtracting one value from another, often used in various contexts like mathematics, statistics, and economics.

X-Inefficiency

The difference between efficient behavior of businesses in a competitive market and their actual behavior due to a lack of competitive pressure.