Consider the following unemployment rate, actual and potential GDP data for a country over several years. Actual Potential Unemp Year GDP GDP Rate 2012 546,000 549,000 7.7 2013 553,000 556,000 7.8 2014 560,000 560,000 6.9 2015 565,000 563,000 6.5 2016 567,000 568,000 7.2 2017 565,000 570,000 7.7 2018 571,000 571,000 6.9 The natural rate of unemployment is %. Type the unemployment rate in exactly as it appears in the last column of the table. Do not include the %-sign. and .Туре The economy is at full employment in the years the year in exactly as it appears in the first column of the table. . Type the year in exactly as it appears in An inflationary gap exists in the year the first column of the table.

Consider the following unemployment rate, actual and potential GDP data for a country over several years. Actual Potential Unemp Year GDP GDP Rate 2012 546,000 549,000 7.7 2013 553,000 556,000 7.8 2014 560,000 560,000 6.9 2015 565,000 563,000 6.5 2016 567,000 568,000 7.2 2017 565,000 570,000 7.7 2018 571,000 571,000 6.9 The natural rate of unemployment is %. Type the unemployment rate in exactly as it appears in the last column of the table. Do not include the %-sign. and .Туре The economy is at full employment in the years the year in exactly as it appears in the first column of the table. . Type the year in exactly as it appears in An inflationary gap exists in the year the first column of the table.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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