The version of okunrsquos law assumes that with no change, Ask an Expert

Economics

The version of Okun’s law assumes that with no change in unemployment, real GDP (RGDP) normally grows by 3 percent over a year. If RGDP last year was $12,375 and the unemployment rate fell by 1 percentage point from last year to this year, what would you predict RGDP to be this year?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91402437

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