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:%
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Capitalist Political Economy Thinkers And Theories
Authors: Heather Whiteside
1st Edition
0429888031, 9780429888038
