If the cyclical unemployment rate is 2.04% and the economy is producing at 95% 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 2.04% and the economy is producing at 95% 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

14th Edition

ISBN:9781337794985

Author:Baumol

Publisher:Baumol

Chapter6: How Statisticians Measure Inflation

Section: Chapter Questions

Problem 3TY

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If the cyclical unemployment rate is 2.04% and the economy is producing at 95% 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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