Using Okun's law, fill in the four pieces of missing data in the table below. All of the following data are hypothetical.NaturalUnemploymentRate (%)55.55(d)Year2015201620172018Real GDP15,36015,800(c)16,995Potential GDP16,000(b)16,00016,500Instruction: Enter your responses as whole numbers.a. Actual unemployment rate in 2015:b. Potential GDP in 2016: $c. Real GDP in 2017: $%ActualUnemploymentRate (%)Instructions: Enter your response rounded to one decimal place.d. Natural unemployment rate in 2018: %(a)5.55.54

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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 (%) 5 5.5 5 (d) Year 2015 2016 2017 2018 Real GDP 15,360 15,800 (c) 16,995 Instruction: Enter your responses as whole numbers. a. Actual unemployment rate in 2015: b. Potential GDP in 2016: $ Potential GDP 16,000 (b) 16,000 16,500 c. Real GDP in 2017: $ % Actual Unemployment Rate (%) Instructions: Enter your response rounded to one decimal place. d. Natural unemployment rate in 2018: % (a) 5.5 5.5 4

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 (%) 5 5.5 5 (d) Year 2015 2016 2017 2018 Real GDP 15,360 15,800 (c) 16,995 Instruction: Enter your responses as whole numbers. a. Actual unemployment rate in 2015: b. Potential GDP in 2016: $ Potential GDP 16,000 (b) 16,000 16,500 c. Real GDP in 2017: $ % Actual Unemployment Rate (%) Instructions: Enter your response rounded to one decimal place. d. Natural unemployment rate in 2018: % (a) 5.5 5.5 4

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

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Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

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Question

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 (%)
5
5.5
5
(d)
Year
2015
2016
2017
2018
Real GDP
15,360
15,800
(c)
16,995
Potential GDP
16,000
(b)
16,000
16,500
Instruction: Enter your responses as whole numbers.
a. Actual unemployment rate in 2015:
b. Potential GDP in 2016: $
c. Real GDP in 2017: $
%
Actual
Unemployment
Rate (%)
Instructions: Enter your response rounded to one decimal place.
d. Natural unemployment rate in 2018: %
(a)
5.5
5.5
4

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