Work out the second equation first.
7 + x= 5
-7 -7
x = -2
Plug in x.
3(-2)+2=?
-6+2=4
Answer:
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Answer:
a. 18 percent
b. $90 billion
Step-by-step explanation:
a. Calculation to use Okun's law to determine the size of the GDP gap in percentage-point terms.
First step is to find the difference between ACTUAL RATE of unemployment and NATURAL RATE of unemployment
Difference=13%-4%
Difference= 9%
Based on the information above calculation we can see that the ACTUAL RATE of unemployment EXCEEDS the NATURAL RATE of unemployment by 9%, which indicates a CYCLICAL UNEMPLOYMENT.
Thus, According to Okun's law, this translates into an 18 % GDP gap in percentage-point terms (= 2 × 9%).
Therefore the the size of the GDP gap in percentage-point terms is 18 percent
b. Calculation to determine how much output is forgone because of cyclical unemployment
Forgone Output :
By applying Okun’s law we known that the GDP gap is 18%, which means that we are 18% below the GDP amount which is given as $500 billion,
Hence,
Output forgone = (18/100) ×$500 billion
Output forgone=0.18×$500 billion
Output forgone=$90 billion
Therefore the Forgone Output is $90 billion
C. The lines curve opposite when typed into a graphing calculator. Check Desmos in the future when you need to see how line map out on to a graph. Hope this helps.
Let:
x= quarters
y= dimes
x+y=67
and
.25x+.10y=12.40
x=67-y
.25(67-y)+.10y=12.40
16.75-.25y+10y=12.40
16.75-.15y=12.40
Lets rearrange this:
-.15y+16.75=12.40
-16.75 -16.75
-.15y=-4.35
the negatives cancel out
.<u>15y</u>=<u>4.35
</u>.15<em /><em> <u /></em>.15
y=29
Back to the original x=67-y
x=67-29
x=38
So,
x=38
y=29
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