(Steps Shown) 2002 2003 Output 12,000 tons of potatoes 14,300 tons of potatoes Employment 1,000 workers 1,100 workers Unemployed 100 workers 50 workers

Question: 2002 2003

Output 12,000 tons of potatoes 14,300 tons of potatoes

Employment 1,000 workers 1,100 workers

Unemployed 100 workers 50 workers

Total labor force 1,100 workers 1,150workers

Prices 2 shekels/tons of potatoes 2.5 shekels/tons of potatoes

As the data suggest, Oz produces only potatoes, and its monetary unit is the shekel. Calculate each of the following macroeconomic variables for Oz, being sure to give units.

Average labor productivity in 2002 and 2003.
The growth rate of average labor productivity between 2002 and 2003.
The unemployment rate in 2002 and 2003
The inflation rate between 2002 and 2003

Price: $2.99

Solution: The downloadable solution consists of 2 pages
Deliverable: Word Document

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(Steps Shown) 2002 2003 Output 12,000 tons of potatoes 14,300 tons of potatoes Employment 1,000 workers 1,100 workers Unemployed 100 workers 50 workers

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