3 a. The size of its recessionary gap is $b. The size of this gap as a percentage of its actual GDP is7.5 %.c. If the natural rate of unemployment is 6%, use Okun's law to calculate the amount of actual unemployment in Altrua.The actual rate of unemployment is30MI96.Prev3 of 18 CHESAMSUNG The figure below depicts the economy of Altrua, which is presently in equilibrium. Enter your responses below rouplace.Price level340 360 380 400 420 440 460 480 500 520Real GDPASADLAS

In economics the long run equilibrium arises when LAS curves AD and AS intersects.

a. The size of its recessionary gap is $ b. The size of this gap as a percentage of its actual GDP is 7.5 %. c. If the natural rate of unemployment is 6%, use Okun's law to calculate the amount of actual unemployment in Altrua. The actual rate of unemployment is 30 96.

a. The size of its recessionary gap is $ b. The size of this gap as a percentage of its actual GDP is 7.5 %. c. If the natural rate of unemployment is 6%, use Okun's law to calculate the amount of actual unemployment in Altrua. The actual rate of unemployment is 30 96.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter23: Aggregate Demand And Aggregate Supply

Section: Chapter Questions

Problem 1QR

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Question

a. The size of its recessionary gap is $
b. The size of this gap as a percentage of its actual GDP is
7.5 %.
c. If the natural rate of unemployment is 6%, use Okun's law to calculate the amount of actual unemployment in Altrua.
The actual rate of unemployment is
30
MI
96.
Prev
3 of 18 CHE
SAMSUNG

The figure below depicts the economy of Altrua, which is presently in equilibrium. Enter your responses below rou
place.
Price level
340 360 380 400 420 440 460 480 500 520
Real GDP
AS
AD
LAS

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