Question
Assume the natural rate of unemployment in the U.S. economy is 4 percent and the actual rate of unemployment is 8 percent. According to Okun's
Assume the natural rate of unemployment in the U.S. economy is 4 percent and the actual rate of unemployment is 8 percent. According to Okun's law, the GDP gap as a percentage of potential GDP is
Multiple Choice
- 8 percent.
- 12 percent.
- 4 percent.
- 2 percent.
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Macroeconomics
Authors: Andrew B. Abel, Ben S. Bernanke, Dean Croushore, Ronald D. Kneebone
6th Canadian Edition
321675606, 978-0321675606
