Suppose the real GDP of an economy is $440 billion dollars and its unemployment rate is 6%. 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 $ 457.6 billion.

Suppose the real GDP of an economy is $440 billion dollars and its unemployment rate is 6%. 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 $ 457.6 billion.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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