What's 60,488 rounded to the nearest ten thousand?
1 answer:
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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:
And we can use the cumulative distribution function given by:
And for this case we can write the probability like this:
And then the final answer for this case would be
Step-by-step explanation:
For this case we define our random variable X "price of gasoline for a city in the USA" and we know the distribution is given by:
And for this case the density function is given by:
And we want to calculate the following probability:
And we can use the cumulative distribution function given by:
And for this case we can write the probability like this:
And then the final answer for this case would be