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Q9/10/11/12 Suppose the Australian economy is experiencing a contractionary output gap equal to -5 percent. If the Okun's law coefficient is assumed to be 2,
Q9/10/11/12 Suppose the Australian economy is experiencing a contractionary output gap equal to -5 percent. If the Okun's law coefficient is assumed to be 2, frictional unemployment is 2 percent, structural unemployment is 3 percent, what is the unemployment rate? #a. 7.5% b. 15% C. 5% d. 2.5%
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