Ñ4 la) If k = 3.5% and c = 2.5, how fast wouldGDP need to grow to get a 2% drop inunemployment? Show your work.%3D1b) If k = 3.5%, c = 2.5 and GDP grows by6%, what is the corresponding change inunemployment? Show your work.

k = Current unemployment c = factor relating to GDP and unemployment Okun' Law provides the a…

Answered: la) If k = 3.5% and c = 2.5, how fast…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

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la) If k = 3.5% and c = 2.5, how fast would GDP need to grow to get a 2% drop in unemployment? Show your work. 1b) If k = 3.5%, c = 2.5 and GDP grows by 6%, what is the corresponding change in unemployment? Show your work.