Consider the following unemployment rate, actual and potential GDP data for a country over several years. Actual Potential Unemp Year GDP GDP Rate 2012 546,000 549,000 7.7 2013 553,000 556,000 7.8 2014 560,000 560,000 6.9 2015 565,000 563,000 6.5 2016 567,000 568,000 7.2 2017 565,000 570,000 7.7 2018 571,000 571,000 6.9 The natural rate of unemployment is %. Type the unemployment rate in exactly as it appears in the last column of the table. Do not include the %-sign. and .Туре The economy is at full employment in the years the year in exactly as it appears in the first column of the table. . Type the year in exactly as it appears in An inflationary gap exists in the year the first column of the table.
Consider the following unemployment rate, actual and potential GDP data for a country over several years. Actual Potential Unemp Year GDP GDP Rate 2012 546,000 549,000 7.7 2013 553,000 556,000 7.8 2014 560,000 560,000 6.9 2015 565,000 563,000 6.5 2016 567,000 568,000 7.2 2017 565,000 570,000 7.7 2018 571,000 571,000 6.9 The natural rate of unemployment is %. Type the unemployment rate in exactly as it appears in the last column of the table. Do not include the %-sign. and .Туре The economy is at full employment in the years the year in exactly as it appears in the first column of the table. . Type the year in exactly as it appears in An inflationary gap exists in the year the first column of the table.
Chapter6: Business Cycles And Unemployment
Section: Chapter Questions
Problem 19SQ
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Transcribed Image Text:Consider the following unemployment rate, actual and potential GDP data for a country over
several years.
Actual
Potential
Unemp
Rate
Year
GDP
GDP
2012
546,000
549,000
7.7
2013
553,000
556,000
7.8
2014
560,000
560,000
6.9
2015
565,000
563,000
6.5
2016
567,000
568,000
7.2
2017
565,000
570,000
7.7
2018
571,000
571,000
6.9
The natural rate of unemployment is
%. Type the unemployment rate in exactly
as it appears in the last column of the table. Do not include the %-sign.
and
Type
The economy is at full employment in the years
the year in exactly as it appears in the first column of the table.
. Type the year in exactly as it appears in
An inflationary gap exists in the year
the first column of the table.
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