Suppose the real GDP of an economy is $420 billion dollars and its unemployment rate is 8%. If the natural rate of unemployment is estimated at 4%, what is the value of the country's potential GDP (LAS) in billions of dollars? Enter your response below rounded to 1 decimal place. Tbillion. Value of the country's potential GDP (LAS) is $
Suppose the real GDP of an economy is $420 billion dollars and its unemployment rate is 8%. If the natural rate of unemployment is estimated at 4%, what is the value of the country's potential GDP (LAS) in billions of dollars? Enter your response below rounded to 1 decimal place. Tbillion. Value of the country's potential GDP (LAS) is $
Chapter6: How Statisticians Measure Inflation
Section: Chapter Questions
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Transcribed Image Text:Suppose the real GDP of an economy is $420 billion dollars and its unemployment rate is 8%.
If the natural rate of unemployment is estimated at 4%, what is the value of the country's potential GDP (LAS) in billions of
dollars? Enter your response below rounded to 1 decimal place.
Value of the country's potential GDP (LAS) is $
Ibillion.
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