I cannot figure out #c please help me!!Note:-Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completely.You will get up vote for sure. The figure below depicts the economy of Altrua, which is presently in equilibrium. Enter your responses below rounded to one decimalplace.Price levelK340 360 380 400 420 440 460 480 500 520Real GDPASADLASOO a. The size of its recessionary gap is $b. The size of this gap as a percentage of its actual GDP is [c. If the natural rate of unemployment is 4%, use Okun's law to calculate the amount of actual unemployment in Altrua.The actual rate of unemployment is10%.2.5 %.

Gross Domestic Product (GDP) is a monetary measure of the total economic output or value of all…

The figure below depicts the economy of Altrua, which is presently in equilibrium. Enter your responses below rounded to one decimal place. Price level 340 360 380 400 420 440 460 480 500 520 Real GDP AS AD LAS

The figure below depicts the economy of Altrua, which is presently in equilibrium. Enter your responses below rounded to one decimal place. Price level 340 360 380 400 420 440 460 480 500 520 Real GDP AS AD LAS

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

I cannot figure out #c please help me!!

Note:-

Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.
Answer completely.
You will get up vote for sure.

The figure below depicts the economy of Altrua, which is presently in equilibrium. Enter your responses below rounded to one decimal
place.
Price level
K
340 360 380 400 420 440 460 480 500 520
Real GDP
AS
AD
LAS
O
O

a. The size of its recessionary gap is $
b. The size of this gap as a percentage of its actual GDP is [
c. If the natural rate of unemployment is 4%, use Okun's law to calculate the amount of actual unemployment in Altrua.
The actual rate of unemployment is
10
%.
2.5 %.

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