Question
Using Okun's law, fill in the four pieces of missing data in the table below. All of thefollowing data are hypothetical. YearReal GDPPotential GDPNatural Unemployment
Using Okun's law, fill in the four pieces of missing data in the table below. All of thefollowing data are hypothetical.
YearReal GDPPotential GDPNatural Unemployment Rate (%)Actual Unemployment Rate (%)2012 14,112 14,4007(a)2013 14,500(b)7 7 2014(c)14,800 7 7.5 2015 15,147 14,850(d)5
Instruction:Enter your responses as whole numbers.
a. Actual unemployment rate in 2012:%
b. Potential GDP in 2013: $
c. Real GDP in 2014: $
Instructions:Enter your response rounded to one decimal place.
d. Natural unemployment rate in 2015:%
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
International Marketing And Export Management
Authors: Gerald Albaum , Alexander Josiassen , Edwin Duerr
8th Edition
1292016922, 978-1292016924
