The natural unemployment rate is 5. suppose the current, Ask an Expert

Economics

Assume that the full-employment level of output is $5000 billion and the natural unemployment rate is 5%. Suppose the current unemployment rate is 8%. What would be the current level of output according to Okun's law (when the Okun's law coefficient is 2)?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M951479

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