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employment is also rising. c. During a recession, suppose unemployed workers leave the labour force because they are discouraged about their inability to find a job. What happens to the unemployment rate? d. "A declining unemployment rate is a clear positive sign for the economy." Comment. ? With the information provided, determine the unemployment rate for each of these hypothetical economies. a. Labour force = 20 million; number of people unemployed = 1.5 million; population = 30 million. b. Number of people employed = 14 million; labour force = 16 million. c. Number of people unemployed = 900 000; num- ber of people employed = 2.25 million. d. Labour force = 8.2 million; number of people unemployed = 500 000; population = 13.5 million. ? Consider an imaginary 10-year period over which out- put per worker falls, but GDP increases. How can this happen? Do you think this is likely to be good for the economy? ? Consider the data shown below for the Canadian Con- sumer Price Index (CPI), drawn from the Bank of Can- ada's website. CPI Inflation

          employment is also rising.
c. During a recession, suppose unemployed workers
leave the labour force because they are discouraged
about their inability to find a job. What happens to
the unemployment rate?
d. "A declining unemployment rate is a clear positive
sign for the economy." Comment.
? With the information provided, determine the
unemployment rate for each of these hypothetical
economies.
a. Labour force = 20 million; number of people
unemployed = 1.5 million; population = 30
million.
b. Number of people employed = 14 million; labour
force = 16 million.
c. Number of people unemployed = 900 000; num-
ber of people employed = 2.25 million.
d. Labour force = 8.2 million; number of people
unemployed = 500 000; population = 13.5 million.
? Consider an imaginary 10-year period over which out-
put per worker falls, but GDP increases. How can this
happen? Do you think this is likely to be good for the
economy?
? Consider the data shown below for the Canadian Con-
sumer Price Index (CPI), drawn from the Bank of Can-
ada's website.
CPI Inflation

employment is also rising.
c. During a recession, suppose unemployed workers
leave the labour force because they are discouraged
about their inability to find a job. What happens to
the unemployment rate?
d. "A declining unemployment rate is a clear positive
sign for the economy." Comment.
? With the information provided, determine the
unemployment rate for each of these hypothetical
economies.
a. Labour force = 20 million; number of people
unemployed = 1.5 million; population = 30
million.
b. Number of people employed = 14 million; labour
force = 16 million.
c. Number of people unemployed = 900 000; num-
ber of people employed = 2.25 million.
d. Labour force = 8.2 million; number of people
unemployed = 500 000; population = 13.5 million.
? Consider an imaginary 10-year period over which out-
put per worker falls, but GDP increases. How can this
happen? Do you think this is likely to be good for the
economy?
? Consider the data shown below for the Canadian Con-
sumer Price Index (CPI), drawn from the Bank of Can-
ada's website.
CPI Inflation

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