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Macroeconomics 1 and 2 - Fall 2026
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Which year had the most growth of Real GDP?
Given the table above, what is the CPI value for 2002?
Consider 2002 to be the base year.Round your answer to the integer.
Match the annual rate of inflation with the type of inflation.
How much did a bottle of Molson beer cost in 1786?
Let's say that a bottle of Molson beer sells for 7 dollars today. Let's say that the minimum wage in Canada is about 15 dollars an hour.
Let's say that a bottle of Molson beer sold for 15 cents in 1840.Let's say that the lowest wage in Canada was 20 cents an hour in 1840.
Who had the most purchasing power, a labourer in 1840, or today?
Given the table above, answer the following questions.
In what year was the nominal wage increase completely erased by inflation?
Given the table above, what is the CPI value for 2003?
Consider 2002 to be the base year.Round your answer to the integer. (no periods)
What was the real wage in 2004?
GDP does not include production that is not monetized, or transacted in a market. Therefore, nature's ecological services such as cool air from large trees, or breathable air from forests, are not included in GDP. Actually, a dead tree is worth more in GDP than a living one, since it is sold as lumber and paper products.
What could we do to measure the importance of ecological services so that we don't cut all the trees who provide us with clean and cool air?