The economy of Switzerland is measured in million dollars and is described by the following equations (Questions 28 to 32).C = 160 + 0.5 (Y - T)T- 1201- 70G-150NX - 5Y 625Find the output gap.25-153015The economy of Switzerland is measured in million dollars and is described by the following equations (Questions 28 to 32).C- 160 + 0.5 (Y - T)T- 1201- 70G- 150S-XNY- 625Find the output gap as a percentage.-4%-5.2%4%O 5.2%

Y = C + I + G + NX Output gap = Y (actual output)- Y* (potential output)

Answered: Find the output gap.

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Find the output gap.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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