7 Using Okun's law, fill in the four pileces of missing data in the table below. All of the following data are hypothetical.NaturalUnemploynent UnemploymentRate ()ActualPotentialTearReal GDPGDPRate (1)201520167,5208,000(e)8,3328,000(b)8,1508,250(a)3.53.520172018(d)3.5Instruction: Enter your responses as whole numbers.a. Actual unemployment rate in 2015:b. Potential GDP in 2016: $c. Real GDP in 2017: $Instructions: Enter your response rounded to one decimal place.d. Natural unemployment rate in 2018: 175 %

Year Real GDP Potential GDP Natural Unemployment Rate Actual Unemployment Rate 2015 7,520 8,000 3…

Using Okun's law, fill in the four pieces of missing data in the table below. All of the following data are hypothetical. Natural Actual Potential Unemploynent Unemploynent Rate () Tear 2015 2016 Real GDP GDP 8,000 (b) 8,150 Rate (1) 7,520 8,000 (G) 8,332 (a) 3.5 3.5 2017 2018 8,250 (d) 3.5 Instruction: Enter your responses as whole numbers. a. Actual unemployment rate in 2015: b. Potential GDP in 2016: $ C. Real GDP in 2017: $

Using Okun's law, fill in the four pieces of missing data in the table below. All of the following data are hypothetical. Natural Actual Potential Unemploynent Unemploynent Rate () Tear 2015 2016 Real GDP GDP 8,000 (b) 8,150 Rate (1) 7,520 8,000 (G) 8,332 (a) 3.5 3.5 2017 2018 8,250 (d) 3.5 Instruction: Enter your responses as whole numbers. a. Actual unemployment rate in 2015: b. Potential GDP in 2016: $ C. Real GDP in 2017: $

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

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Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Using Okun's law, fill in the four pileces of missing data in the table below. All of the following data are hypothetical.
Natural
Unemploynent Unemployment
Rate ()
Actual
Potential
Tear
Real GDP
GDP
Rate (1)
2015
2016
7,520
8,000
(e)
8,332
8,000
(b)
8,150
8,250
(a)
3.5
3.5
2017
2018
(d)
3.5
Instruction: Enter your responses as whole numbers.
a. Actual unemployment rate in 2015:
b. Potential GDP in 2016: $
c. Real GDP in 2017: $
Instructions: Enter your response rounded to one decimal place.
d. Natural unemployment rate in 2018: 175 %

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