Using Okun's law, fill in the four pieces of missing data in the table below. All of the following data are hypothetical.NaturalActualUnemployment UnemploymentRate (1)(a)PotentialReal GDPGDPRate (1)Year7,8408,100(c)8,4158,000(b)8,2008,2502015201620174.54.2018(d)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:|1%

Given: 2015: Real GDP=7840 Potential GDP=8000

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 Unemployment Unemployment Rate () (a) Potential Rate (1) 5. Year Real GDP GDP 2015 2016 2017 2018 7,840 8,100 (0) 8,415 8,000 (b) 8,200 8,250 5. 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: $ Instructions: Enter your response rounded to one decimal place. d. Natural unemployment rate in 2018:

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 Unemployment Unemployment Rate () (a) Potential Rate (1) 5. Year Real GDP GDP 2015 2016 2017 2018 7,840 8,100 (0) 8,415 8,000 (b) 8,200 8,250 5. 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: $ Instructions: Enter your response rounded to one decimal place. d. Natural unemployment rate in 2018:

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter7: Production And Growth

Section: Chapter Questions

Problem 5CQQ

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