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Answer:
The GDP gap is 9 % when there is 4.5 % unemployment.
Step-by-step explanation:
The statement shows a reverse relationship, where an increase in unemployment is following by decrease in potential GDP and can be translated into the following rate:
The GDP gap at a given increase in unemployment can be estimated by the following expression:
Where:
- GDP gap-unemployment increase rate, dimensionless.
- Increase in unemployment rate, measured in percentage.
- GDP gap, measured in percentage.
If and
, the GDP gap is:
The GDP gap is 9 % when there is 4.5 % unemployment.
Answer with Step-by-step explanation:
We are given that
Flat fee of taxicab=$7
Cost of one mile=$1.25
1.We have to show that relationship between total cost and the number of miles driven.
2.We have to find independent variable and dependent variable
3.We have to write an equation to model the relationship and make a table to show the cost of 4 to 10 miles.
1.Let x be the number of miles driven by taxicab and total cost y of taxicab.
According to question
This is a relation between number of miles drive and total cost.
2. Independent variable : It is that variable which does not depend on value of another variable .
Dependent variable : it is that variable which depend on value of another variable.
We can see that y depend on x and value of x does not depend on any value.
Therefore, y is dependent variable and x is independent variable.
Substitute x=4 then we get
$12
Substitute x=5 then get
$13.25
\$14.5
$15.75
$17
$18.25
$19.5