Homework Answers
Okun's law suggests that
2*(unemployment rate-natural rate of unemployment)=Percent change in output
| Potential Real GDP, Y | Natural rate of unemployment, N | Actual rate of unemployment, A | Negative GDP Gap=G= 2*(A-N) | Absolute Gap of output, GY/100 |
| 200 | 6 | 12 | 12 | 24.00 |
| 500 | 5 | 9 | 8 | 40.00 |
| 400 | 6 | 11 | 10 | 40.00 |
| 380 | 5 | 9.3 | 8.6 | 32.68 |
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Question 28 8 pts Natural rate of Potential Real GDP unemployment Actual rate of unemployment Negative...
Suppose that the natural rate of unemployment in a particular year is 6 percent and the...
Suppose that the natural rate of unemployment in a particular
year is 6 percent and the actual rate of unemployment is 9 percent.
Use Okun’s law to determine the size of the GDP gap in
percentage-point terms. If the potential GDP is $500 billion in
that year, how much output is being forgone because of cyclical
unemployment?
Suppose that the natural rate of unemployment in a particular year is 6 percent and the actual rate of unemployment is 9 percent....
Suppose that the natural rate of unemployment in a particular year is 5 percent and the...
Suppose that the natural rate of unemployment in a particular year is 5 percent and the actual rate of unemployment is 9 percent Instructions: Enter your answers as whole numbers. a. Use Okun's law to determine the size of the GDP gap in percentage-point terms. Percent b. If the potential GDP is $500 billion in that year, how much output is being forgone because of cyclical unemployment? C billion
Nominal GDP Natural rate of unemployment Actual rate of unemployment GDP Deflator $500 billion 8% 10%...
Nominal GDP Natural rate of unemployment Actual rate of unemployment GDP Deflator $500 billion 8% 10% 115 Refer to the information above to answer this question. What is the size of the GDP gap in percentage terms for this economy? A) 5%. B) 296. C) 096. D) 496. E) 896.
12 ay if a country's natural unemployment rate is 5 percent and its actual unemployment rate...
12 ay if a country's natural unemployment rate is 5 percent and its actual unemployment rate is 6.5 percent, what is its cyclical unemployment rate? percent Instructions: Enter the value for the output gap as an absolute number b) According to Okun's law, this country would have a recessionary output gap of percent. 0123:17
a) If a country's natural unemployment rate is 5 percent and its actual unemployment rate is 3.5 percent, what is its cy...
a) If a country's natural unemployment rate is 5 percent and its actual unemployment rate is 3.5 percent, what is its cyclical unemployment rate? percent Instructions: Enter the value for the output gap as an absolute number. b) According to Okun's law, this country would have (Click to select) an expansionary a recessionary output gap of percent.
Question 11 1 pts The unemployment rate is 6% and the natural rate of unemployment is...
Question 11 1 pts The unemployment rate is 6% and the natural rate of unemployment is 3%. Potential output is $ 100. Using the slope coefficients for the Phillips Curve and/or for Okun's Law from the textbook, calculate actual output (in $)?
Unemployment rate: natural rate of unemployment-0.5 x (output gap) 1. Use Okun's Law to estimate the...
Unemployment rate: natural rate of unemployment-0.5 x (output gap) 1. Use Okun's Law to estimate the following: a) The current US unemployment rate is around 10%, and level of inflation is close to 0%. If the natural rate of unemployment is 6%, what can we say about the output gap (or at what production capacity is the economy is operating relative to the potential capacity is the économy is operating relative to the potential output?)? The current US unemployment rate...
When the output gap is negative, the actual unemployment rate is: O below the natural rate. O equal to the natural...
When the output gap is negative, the actual unemployment rate is: O below the natural rate. O equal to the natural rate. Oabove the natural rate. The actual and natural unemployment rates are not related to the output gap.
How does the unemployment rate fluctuate over the business cycle? Unemployment rate (percentage of labor force)...
How does the unemployment rate fluctuate over the business cycle? Unemployment rate (percentage of labor force) When the unemployment rate is greater than the natural unemployment rate, the output gap is When the unemployment rate is less than the natural unemployment rate, the output gap is 1044 Unemployment rate nis O A. positive; negative B. negative; positive O C. negative; zero OD. zero; positive Natural unemployment rate The graph shows the unemployment rate and the natural unemployment rate between 1980...
a. Suppose the natural rate of unemployment is 4 percent. What is the actual rate of...
a. Suppose the natural rate of unemployment is 4 percent. What is the actual rate of unemployment if actual output is 2 percent below potential output? (Please express your answer in percent terms) b. In Macroland, potential output equals $100 trillion and the natural rate of unemployment is 4 percent. If the actual unemployment rate is 3 percent, then real GDP equals:
Suppose that the natural rate of unemployment in a particular
year is 6 percent and the actual rate of unemployment is 9 percent.
Use Okun’s law to determine the size of the GDP gap in
percentage-point terms. If the potential GDP is $500 billion in
that year, how much output is being forgone because of cyclical
unemployment?
Suppose that the natural rate of unemployment in a particular year is 6 percent and the actual rate of unemployment is 9 percent....
Suppose that the natural rate of unemployment in a particular year is 5 percent and the actual rate of unemployment is 9 percent Instructions: Enter your answers as whole numbers. a. Use Okun's law to determine the size of the GDP gap in percentage-point terms. Percent b. If the potential GDP is $500 billion in that year, how much output is being forgone because of cyclical unemployment? C billion
Nominal GDP Natural rate of unemployment Actual rate of unemployment GDP Deflator $500 billion 8% 10% 115 Refer to the information above to answer this question. What is the size of the GDP gap in percentage terms for this economy? A) 5%. B) 296. C) 096. D) 496. E) 896.
12 ay if a country's natural unemployment rate is 5 percent and its actual unemployment rate is 6.5 percent, what is its cyclical unemployment rate? percent Instructions: Enter the value for the output gap as an absolute number b) According to Okun's law, this country would have a recessionary output gap of percent. 0123:17
Question 11 1 pts The unemployment rate is 6% and the natural rate of unemployment is 3%. Potential output is $ 100. Using the slope coefficients for the Phillips Curve and/or for Okun's Law from the textbook, calculate actual output (in $)?
Unemployment rate: natural rate of unemployment-0.5 x (output gap) 1. Use Okun's Law to estimate the following: a) The current US unemployment rate is around 10%, and level of inflation is close to 0%. If the natural rate of unemployment is 6%, what can we say about the output gap (or at what production capacity is the economy is operating relative to the potential capacity is the économy is operating relative to the potential output?)? The current US unemployment rate...
When the output gap is negative, the actual unemployment rate is: O below the natural rate. O equal to the natural rate. Oabove the natural rate. The actual and natural unemployment rates are not related to the output gap.
How does the unemployment rate fluctuate over the business cycle? Unemployment rate (percentage of labor force) When the unemployment rate is greater than the natural unemployment rate, the output gap is When the unemployment rate is less than the natural unemployment rate, the output gap is 1044 Unemployment rate nis O A. positive; negative B. negative; positive O C. negative; zero OD. zero; positive Natural unemployment rate The graph shows the unemployment rate and the natural unemployment rate between 1980...
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