If a country's natural unemployment rate is 5.5 percent and its actual unemployment rate is 3.5 percent, what is its cyclical unemployment rate? ___________percent
If a country's natural unemployment rate is 5.5 percent and its actual unemployment rate is 3.5 percent, what is its cyclical unemployment rate? ___________percent
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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a) If a country's natural
Instructions: Enter the value for the output gap as an absolute number.
(PLEASE ANSWER THIS PART B)
b) According to Okun's law, this country would have an expansionary output gap of _________percent.
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