If the natural rate of unemployment is 4.5 percent, the current unemployment rate is 7.6 percent, and the current GDP is 9 billion, according to Okun's law, the economy's potential output (in billion dollars, rounded to two decimal points) is: Your Answer: Answer

If the natural rate of unemployment is 4.5 percent, the current unemployment rate is 7.6 percent, and the current GDP is 9 billion, according to Okun's law, the economy's potential output (in billion dollars, rounded to two decimal points) is: Your Answer: Answer

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

Chapter15: Macroeconomic Policy, Economic Stability, And The Federal Debt

Section: Chapter Questions

Problem 5CQ

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Question

If the natural rate of unemployment is 4.5 percent, the current unemployment rate is
7.6 percent, and the current GDP is 9 billion, according to Okun's law, the economy's
potential output (in billion dollars, rounded to two decimal points) is:
Your Answer:
Answer

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