Question 1 In terms of understanding the overall volatility of GDP, consumption: Is important since it is among the more volatile components of GDP Is important since it has such a large weight in GDP...

Extracted text: Question 1 In terms of understanding the overall volatility of GDP, consumption: Is important since it is among the more volatile components of GDP Is important since it has such a large weight in GDP Is unimportant due consumption smoothing Is unimportant due to Richardian Equivalence Question 2 Based on your knowledge of Chapter 13 (Some business cycle facts), for Canada, changes in labour's inputs reflects for the most part: OChanges in the supply of labour Changes in employment (as reflected in the unemployment rate) Changes in hours worked Changes in the productivity of labour