Macroeconomics: Private and Public Choice
15th Edition
ISBN: 9781305176799
Author: Gwartney
Publisher: Cengage
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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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Macroeconomics: Private and Public Choice
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