If given a set of data such as the following: 2015 2016 2017 6.22% 7.50% 9.32% where column one is the year and column 2 is the unemployment rate, is the NATURAL unemployment rate calculated with a midpoint formula or an average of the data?

If given a set of data such as the following: 2015 2016 2017 6.22% 7.50% 9.32% where column one is the year and column 2 is the unemployment rate, is the NATURAL unemployment rate calculated with a midpoint formula or an average of the data?

Economics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506725

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter8: Economic Fluctuations, Unemployment, And Inflation

Section: Chapter Questions

Problem 12CQ

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Question

If given a set of data such as the following:
2015
2016
2017
6.22%
7.50%
9.32%
where column one is the year and column 2 is
the unemployment rate, is the NATURAL
unemployment rate calculated with a
midpoint formula or an average of the data?

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