3. Suppose macroeconomic information for Australia is given below.
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(a) Calculate average labor productivity in Year 1 and Year 2.
(b) Calculate the growth rate of average labor productivity between Year 1 and Year 2. Note: average labor productivity is output per employed workers.
(c) Calculate the unemployment rate in Year 1 and Year 2.
(d) Calculate the inflation rate between Year 1 and Year 2.