Please hep with this question ? That is attatched show how calcualtion was made thank you, The data in the table below are for the economy of Merton, which has a natural rate of unemployment of 5%.What is the size of the GDP gap for each of the three years? Enter your responses rounded to two decimal places, in the final row ofthe table.201520162017Real GDP (Sbillions)Unemployment rate$725$750$8759.0%6.5%5.5%GDP Gap (billions)$ 121.88$ 120.30163.13

The term ‘unemployment’ term refers to the situation when an individual is seeking for a job but…

Answered: the table below are for the economy of…

the table below are for the economy of Merton, which size of the GDP gap for each of the three years? Enter 2015 $725 201 (Sbillions) $75

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

Please hep with this question ? That is attatched show how calcualtion was made thank you,

The data in the table below are for the economy of Merton, which has a natural rate of unemployment of 5%.
What is the size of the GDP gap for each of the three years? Enter your responses rounded to two decimal places, in the final row of
the table.
2015
2016
2017
Real GDP (Sbillions)
Unemployment rate
$725
$750
$875
9.0%
6.5%
5.5%
GDP Gap (billions)
$ 121.88
$ 120.30
163.13

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