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QUESTION
a) What are the problems that always arise from measuring price levels with a fixed basket of goods and what steps can be taken to counter these...
a) What are the problems that always arise from measuring price levels with a fixed basket of goods and what steps can be taken to counter these problems.
b) How would the unemployment rate and the labour force participation rate change if discouraged workers were counted as 'unemployed' rather than as being in the 'noting-the-labour force' category?
