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Suppose that the natural rate of unemployment in a particular year is 4 percent and the actual rate of unemployment is 9 percent. Use Okun's

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Suppose that the natural rate of unemployment in a particular year is 4 percent and the actual rate of unemployment is 9 percent. Use Okun's law to determine the size of the GDP gap in percentage-point terms. If the potential GDP is $500 billion in that year, how much output is forgone because of cyclical unemployment? Instructions: Enter whole numbers for your answers below. GDP gap = % Forgone output = $billion

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