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 () 4 Year 2015 2016 2017 2018 Real GDP 13,248 14,500 (c) 15,049 Potential GDP 14,400 (b) 14,800 14,900 4.5 4 (d) 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 () (a) 4.5 Instructions: Enter your response rounded to one decimal place. d. Natural unemployment rate in 2018: % 5 4

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Chapter1: Making Economics Decisions
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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)
4
4.5
4
Year
2015
2016
2017
2018
Real GDP
13,248
14,500
(c)
15,049
Potential
GDP
14,400
(b)
14,800
14,900
(d)
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 ()
(a)
4.5
5
4
Instructions: Enter your response rounded to one decimal place.
d. Natural unemployment rate in 2018: %
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 (5) 4 4.5 4 Year 2015 2016 2017 2018 Real GDP 13,248 14,500 (c) 15,049 Potential GDP 14,400 (b) 14,800 14,900 (d) 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 () (a) 4.5 5 4 Instructions: Enter your response rounded to one decimal place. d. Natural unemployment rate in 2018: %
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