In Macroland, a country that operates according to Okun's law, potential GDP equals $10 trillion, the actual rate of unemployment is 8 percent, and the natural unemployment rate is 4 percent. What is the real GDP in Macroland?

In Macroland, a country that operates according to Okun's law, potential GDP equals $10 trillion, the actual rate of unemployment is 8 percent, and the natural unemployment rate is 4 percent. What is the real GDP in Macroland?

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

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Chapter1: Making Economics Decisions

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Question

In Macroland, a country that operates according to Okun's law, potential GDP equals $10 trillion,
98.
the actual rate of unemployment is 8 percent, and the natural unemployment rate is 4 percent.
What is the real GDP in Macroland?
$9.2 trillion
A.
B. $9.8 trillion
C. $10 trillion
+ Q
248 /98 .

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