Answer:
long-term changes in the economy
Explanation:
My daughter took the test and made 100
Answer:
Tab + windows
Explanation:
I got it right in the 2nd try EDGE2020
The answer to your question is b
Answer:
A) $24 billion
Explanation:
Here is the complete question :
Potential Real GDP $200 Billion
Natural Rate of Unemployment- 6 Percent
Actual Rate of Unemployment- 12 Percent
Refer to the accompanying data, which is for a specific year in a hypothetical economy for which Okun's law is applicable. The amount of output being forgone by the economy is
C) $15 billion. D) $18 billion. A) $12 billion. B) $24 billion.
According to Okun's law, a 1% decline in unemployment results in a 2% fall in potential GDP
Decline in unemployment = Actual Rate of Unemployment - Natural Rate of Unemployment
12 - 6 = 6%
decline in output = 6% x 2% = 12%
potential GDP lost = 12% x $200 Billion = 24 billion
