Using Okun's law, fill in the four pieces of missing data in the table below. All of the following data are hypothetical.NaturalUnemploymentRate (5)44.54Year2015201620172018Real GDP13,24814,500(c)15,049PotentialGDP14,400(b)14,80014,900(d)Instruction: Enter your responses as whole numbers.a. Actual unemployment rate in 2015:b. Potential GDP in 2016: $c. Real GDP in 2017: $ActualUnemploymentRate ()(a)4.554Instructions: Enter your response rounded to one decimal place.d. Natural unemployment rate in 2018: %

Okun's law refers to the equation that shows the relation between the actual output, the potential…

Using Okun's law, fill in the four pieces of missing data in the table below. All of the following data are hypothetical. Natural Unemployment Rate () 4 Year 2015 2016 2017 2018 Real GDP 13,248 14,500 (c) 15,049 Potential GDP 14,400 (b) 14,800 14,900 4.5 4 (d) Instruction: Enter your responses as whole numbers. a. Actual unemployment rate in 2015: % b. Potential GDP in 2016: $ c. Real GDP in 2017: $ Actual Unemployment Rate () (a) 4.5 Instructions: Enter your response rounded to one decimal place. d. Natural unemployment rate in 2018: % 5 4

Using Okun's law, fill in the four pieces of missing data in the table below. All of the following data are hypothetical. Natural Unemployment Rate () 4 Year 2015 2016 2017 2018 Real GDP 13,248 14,500 (c) 15,049 Potential GDP 14,400 (b) 14,800 14,900 4.5 4 (d) Instruction: Enter your responses as whole numbers. a. Actual unemployment rate in 2015: % b. Potential GDP in 2016: $ c. Real GDP in 2017: $ Actual Unemployment Rate () (a) 4.5 Instructions: Enter your response rounded to one decimal place. d. Natural unemployment rate in 2018: % 5 4

MACROECONOMICS

14th Edition

ISBN:9781337794985

Author:Baumol

Publisher:Baumol

Chapter6: How Statisticians Measure Inflation

Section: Chapter Questions

Problem 3TY

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Using Okun's law, fill in the four pieces of missing data in the table below. All of the following data are hypothetical. Natural Actual Potential GDP Unemployment Unemployment Rate (%) Year Real GDP Rate (%) (a) 15,040 15,800 (c) 17,160 16,000 (b) 16,000 16,500 2012 4 2013 4 4 :38 2014 4 3.5 2015 (d) Instruction: Enter your responses as whole numbers. a. Actual unemployment rate in 2012: b. Potential GDP in 2013: $ C. Real GDP in 2014: $ Instructions: Enter your response rounded to one decimal place. d. Natural unemployment rate in 2015: in ( Prev 23 of 25 Next
Ellen is downloading labor market data for the most recent month, but her connection is slow. So far this is all she has been able to get: Unemployment rate 5.0% Participation rate 62.5% Not in the labor force 60 million Find the labor force, the working-age population, the number of employed workers, and the number of unemployed workers.Instructions: Enter your responses as whole numbers.Labor force: millionWorking-age population: millionNumber of employed workers: millionNumber of unemployed workers: million
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Using Okun’s law, fill in the four pieces of missing data in the table below. All of the following data are hypothetical. Year Real GDP Potential GDP Natural Unemployment Rate (%) Actual Unemployment Rate (%) 2012 13,248 14,400 4 (a) 2013 14,500 (b) 4.5 4.5 2014 (c) 14,800 4 5 2015 15,049 14,900 (d) 4 Instruction: Enter your responses as whole numbers. a. Actual unemployment rate in 2012: %b. Potential GDP in 2013: $ c. Real GDP in 2014: $
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