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(i) Again using Okun's Law, what was the percentage GDP gap then? Show your computation. (ii) State your answer in words, comparing actual to potential

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(i) Again using Okun's Law, what was the percentage GDP gap then? Show your computation. (ii) State your answer in words, comparing actual to potential output. (iii) What is the sign of the GDP gap then? (iv) Why is the sign of the GDP gap in 2008 the opposite of the sign of the current GDP gap? Explain

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