Question
Suppose the real GDP of an economy is $480 billion dollars and its unemployment rate is 7%. If the natural rate of unemployment is estimated
Suppose the real GDP of an economy is $480 billion dollars and its unemployment rate is 7%.
If the natural rate of unemployment is estimated at 4%, what is the value of the country's potential GDP (LAS) in billions of dollars? Enter your response below rounded to 1 decimal place.
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Advanced Placement Microeconomics
Authors: Bill Hurd
1st Edition
1531150306, 978-1531150303
