If the cyclical unemployment rate is 1.31% and the economy is producing at 92% of potential output, how sensitive is the unemployment rate to short-run changes in GDP? Write your answer as a fraction and don't forget the minus sign. Round your answer at two (2) decimals.

If the cyclical unemployment rate is 1.31% and the economy is producing at 92% of potential output, how sensitive is the unemployment rate to short-run changes in GDP? Write your answer as a fraction and don't forget the minus sign. Round your answer at two (2) decimals.

Macroeconomics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506756

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 5CQ

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If the cyclical unemployment rate is 1.31% and the economy is producing at 92% of potential
output, how sensitive is the unemployment rate to short-run changes in GDP?
Write your answer as a fraction and don't forget the minus sign. Round your answer at two (2)
decimals.

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