Macroeconomics: Private and Public Choice
15th Edition
ISBN: 9781285453545
Author: Russell Sobel; Richard Stroup; James Gwartney; David Macpherson
Publisher: South-Western College Pub
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Question
Chapter 9, Problem 10CQ
(a)
To determine
Explain how the long-run equilibrium rate of output is related to the potential
(b)
To determine
Explain how the potential GDP is related to the long-run equilibrium rate of output and actual rate of unemployment and the natural rate of unemployment.
(c)
To determine
Explain how the actual rate of unemployment and natural rate of unemployment are related to the potential GDP and long-run equilibrium rate of output.
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Chapter 9 Solutions
Macroeconomics: Private and Public Choice
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