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Unemployment rate and inflation compare

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GDP is 1,829,325 (up 0.9% from last quarter), Unemployment Rate is at 6.6 % (up .1% from the previous month), and Inflation is 1.6% in a 12 month change.

How does the current GDP, Unemployment rate and Inflation compare to both the short-run and long-run averages in Canada. Are we currently in a recessionary or expansionary gap and why?

Reference no: EM131542371

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