Using Okun's law, fill in the four pieces of missing data in the table below. All of the following data are hypothetical Natural Unemployment Rate () Year 2015 2016 2017 2018 Potential GDP Real GDP 7,520 8,000 (c) 8,332 Instruction: Enter your responses as whole numbers. a. Actual unemployment rate in 2015: 6% b. Potential GDP in 2016: $ 8000 c. Real GDP in 2017: $1 8,000 (b) 8,150 8,250 3 3.5 4 (d) Actual Unemployment Rate () Instructions: Enter your response rounded to one decimal place. write d. Natural unemployment rate in 2018: % (a) 3.5 3 3.5
Using Okun's law, fill in the four pieces of missing data in the table below. All of the following data are hypothetical Natural Unemployment Rate () Year 2015 2016 2017 2018 Potential GDP Real GDP 7,520 8,000 (c) 8,332 Instruction: Enter your responses as whole numbers. a. Actual unemployment rate in 2015: 6% b. Potential GDP in 2016: $ 8000 c. Real GDP in 2017: $1 8,000 (b) 8,150 8,250 3 3.5 4 (d) Actual Unemployment Rate () Instructions: Enter your response rounded to one decimal place. write d. Natural unemployment rate in 2018: % (a) 3.5 3 3.5
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter19: The Macroeconomic Perspective
Section: Chapter Questions
Problem 25CTQ: Cross country comparisons of GDP per capita typically use purchasing power parity equivalent...
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![Using Okun's law, fill in the four pieces of missing data in the table below. All of the following data are hypothetical.
Natural
Unemployment
Rate(%)
Year
2015
2016
2017
2018
Real GDP
7,520
8,000
(c)
8,332
Potential
GDP
8,000
(b)
8,150
8,250
Instruction: Enter your responses as whole numbers.
a. Actual unemployment rate in 2015: 6%
b. Potential GDP in 2016: $ 8000
c. Real GDP in 2017: $
3
3.5
4
(d)
Sw
AMERIC
Actual
Unemployment
Rate (%)
Instructions: Enter your response rounded to one decimal place.
d. Natural unemployment rate in 2018:
(a)
3.5
3
3.5](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9f20db1d-317a-40c4-9023-56a8dc1e6591%2F01c93e4e-cf65-4589-ad8b-2c6cfa411ce6%2Fijbajd_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Using Okun's law, fill in the four pieces of missing data in the table below. All of the following data are hypothetical.
Natural
Unemployment
Rate(%)
Year
2015
2016
2017
2018
Real GDP
7,520
8,000
(c)
8,332
Potential
GDP
8,000
(b)
8,150
8,250
Instruction: Enter your responses as whole numbers.
a. Actual unemployment rate in 2015: 6%
b. Potential GDP in 2016: $ 8000
c. Real GDP in 2017: $
3
3.5
4
(d)
Sw
AMERIC
Actual
Unemployment
Rate (%)
Instructions: Enter your response rounded to one decimal place.
d. Natural unemployment rate in 2018:
(a)
3.5
3
3.5
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