An economy is described by the following equations C = 62 + 0.6 (Y - T) T = 100 IP = 200 G = 80 NX = -30 Y* = 600 find the level of total unemployment at Y (actual output). Assume the Natural rate of Unemployment = 5%

Macroeconomics: Private and Public Choice (MindTap Course List)
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Chapter8: Economic Fluctuations, Unemployment, And Inflation
Section: Chapter Questions
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An economy is described by the following equations

C = 62 + 0.6 (Y - T)

T = 100

IP = 200

G = 80

NX = -30

Y* = 600

find the level of total unemployment at Y (actual output). Assume the Natural rate of Unemployment = 5%

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