Suppose the real GDP of an economy is $520 billion dollars and its unemployment rate is 8%. If the natural rate of unemployment is estimated at 5%, what is the value of the country's potential GDP (LAS) in billions of dollars? Enter your response below rounded to 1 decimal place. Value of the country's potential GDP (LAS) is $ | billion.

Suppose the real GDP of an economy is $520 billion dollars and its unemployment rate is 8%. If the natural rate of unemployment is estimated at 5%, what is the value of the country's potential GDP (LAS) in billions of dollars? Enter your response below rounded to 1 decimal place. Value of the country's potential GDP (LAS) is $ | billion.

MACROECONOMICS FOR TODAY

10th Edition

ISBN:9781337613057

Author:Tucker

Publisher:Tucker

Chapter6: Business Cycles And Unemployment

Section: Chapter Questions

Problem 15SQ

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