.Ileana is going to plant 12 small plants around the edge of a circular garden that is 10 feet in diameter. If she spaces the pl
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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.