Economics 4. Suppose that Okun's law can be described by the following equation: Y-Y* = -3(u – u') %3D Y* Where u is the unemployment rate, u' is the natural rate of unemployment, Y is the GDP, and Y* is the potential GDP. Suppose that u* =5%. Calculate the GDP gap if u =5.4%. Calculate the potential GDP if Y = 12,000 • The job losing rate is 2.0%, and the job-finding rate is 45%. Find the unemployment rate in the next month, knowing that the labour force (LF) totals 1,000? Calculate the employment rate (e) and the total working-age population (15-64 Years), if the labour force participation rate (If) is equal to 76%.

Economics 4. Suppose that Okun's law can be described by the following equation: Y-Y* = -3(u – u') %3D Y* Where u is the unemployment rate, u' is the natural rate of unemployment, Y is the GDP, and Y* is the potential GDP. Suppose that u* =5%. Calculate the GDP gap if u =5.4%. Calculate the potential GDP if Y = 12,000 • The job losing rate is 2.0%, and the job-finding rate is 45%. Find the unemployment rate in the next month, knowing that the labour force (LF) totals 1,000? Calculate the employment rate (e) and the total working-age population (15-64 Years), if the labour force participation rate (If) is equal to 76%.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter24: The Influence Of Monetary And Fiscal Policy On Aggregate Demand

Section: Chapter Questions

Problem 11PA

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What are the two biggest recessions in terms of length and magnitude from the graph, the shaded areas show recession and 2020 is not included? How does the unemployment rate react during the two main recessions you have identified? What was the level of the unemployment rate during the first and the last quarter of negative growth for those two recessions? What do you conclude about the link between recession and the variation in unemployment?
The figure below depicts the economy of Altrua, which is presently in equilibrium. Enter your responses below rounded to one decimal place. a. The size of its recessionary gap is $ .b. The size of this gap as a percentage of its actual GDP is %.c. If the natural rate of unemployment is 1%, use Okun’s law to calculate the amount of actual unemployment in Altrua. The actual rate of unemployment is %. Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.Answer completely and accurate answer.Rest assured, you will receive an upvote if the answer is accurate.
Please answer correct calculation asap plz Don't answer by pen paper plz
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The data in the table below are for the economy of Merton, which has a natural rate of unemployment of 5%. What is the size of the GDP gap for each of the three years? Enter your responses rounded to two decimal places, in the fir the table. Real GOP ($billions) Unemployment rate GDP Gap (billions) $ 2018 $650 7.5% 5.32 2019 $625 6.8% $-0.018 2020 $775 6.0% $-0.010
What are the two biggest recessions in terms of length and magnitude from the graph, the shaded areas show recession and 2020 is not included? How does the unemployment rate react during the two main recessions you have identified? What was the level of the unemployment rate during the first and the last quarter of negative growth for those two recessions? why data for France for 1980s is not avaliable What do you conclude about the link between recession and the variation in unemployment?
The figure below depicts the economy of Altrua, which is presently in equilibrium. Enter your responses below rounded to one decimal place. Price level 340 360 380 400 420 440 460 480 500 520 Real GDP AS AD 60 LAS a. The size of its recessionary gap is $ b. The size of this gap as a percentage of its actual GDP is c. If the natural rate of unemployment is 3%, use Okun's law to calculate the amount of actual unemployment in Altrua The actual rate of unemployment is 15 %.
2. The connection between macroeconomics and microeconomics While economists measure unemployment at the macroeconomic level, microeconomic forces are often responsible for this macro aggregate. In other words, the tie between microeconomics and macroeconomics is inevitable when discussing the level of unemployment in an economy. Suppose the following graph represents the market for unskilled labor in a fictional economy. These workers typically represent the young, inexperienced, or uneducated part of the labor force and are therefore most effected by changes in the unemployment rate. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. WAGE (Dollars per hour) 15 12 0 0 400 Labor Supply Labor Demand 800 200 QUANTITY (Thousands of workers) 600 1000 Graph Input Tool Labor Market…
4. Suppose that Okun's law can be described by the following equation: Y-Y* = -3(u – u*) Y* Where u is the unemployment rate, u* is the natural rate of unemployment, Y is the GDP, and Y* is the potential GDP. Suppose that u 5%. Calculate the GDP Calculate the poténtial GDP if Y The job losing rate is 2.0%, and the job-finding rate is 45%. Find the unemployment rate in the next month, knowing that the labour force (LF) totals 1,000? Calculate the employment rate (e) and the total working-age population (15-64 Years), if the labour force participation rate (If) is equal to 76%. gap if u = 5.4%. = 12,000
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Discuss the ways in which unemployment can be reduced on the demand side of the economy
Please help with the calculation on how to calculate the LAS