Question
If the natural rate of unemployment was 4 percent, the current unemployment rate was 8.5 percent, and potential GDP was $4,000 billion, then according to
If the natural rate of unemployment was 4 percent, the current unemployment rate was 8.5 percent, and potential GDP was $4,000 billion, then according to Okun's law the economy would have sacrificed
- $360 billion in output not produced.
- $850 billion in output not produced.
- $400 billion in output not produced.
- $160 billion in output not produced.
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Macroeconomics
Authors: Charles I. Jones
3rd edition
978-0393123944, 393123944, 393923908, 978-0393923902
