ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Using Okun's law, fill in the four pileces of missing data in the table below. All of the following data are hypothetical.
Natural
Unemploynent Unemployment
Rate ()
Actual
Potential
Tear
Real GDP
GDP
Rate (1)
2015
2016
7,520
8,000
(e)
8,332
8,000
(b)
8,150
8,250
(a)
3.5
3.5
2017
2018
(d)
3.5
Instruction: Enter your responses as whole numbers.
a. Actual unemployment rate in 2015:
b. Potential GDP in 2016: $
c. Real GDP in 2017: $
Instructions: Enter your response rounded to one decimal place.
d. Natural unemployment rate in 2018: 175 %
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Transcribed Image Text:Using Okun's law, fill in the four pileces of missing data in the table below. All of the following data are hypothetical. Natural Unemploynent Unemployment Rate () Actual Potential Tear Real GDP GDP Rate (1) 2015 2016 7,520 8,000 (e) 8,332 8,000 (b) 8,150 8,250 (a) 3.5 3.5 2017 2018 (d) 3.5 Instruction: Enter your responses as whole numbers. a. Actual unemployment rate in 2015: b. Potential GDP in 2016: $ c. Real GDP in 2017: $ Instructions: Enter your response rounded to one decimal place. d. Natural unemployment rate in 2018: 175 %
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