According to Okun's law, if the unemployment rate is 7 percent and the natural unemployment rate is 5 percent, potential GDP is ________ than real GDP.
A) 2 percent less
B) 4 percent less
C) 7 percent less
D) 2 percent greater
E) 4 percent greater
Correct Answer:
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Q30: If the natural unemployment rate is 4
Q31: According to Okun's Law, for each 1
Q32: If the natural unemployment rate is 5
Q33: Moving _ the short-run Phillips curve is
Q34: Okun's Law states that
A) supply creates its
Q36: Suppose the unemployment rate is 8 percent
Q37: If the economy is on its short-run
Q38: Suppose the natural unemployment rate is 5
Q39: Moving upward along the aggregate supply curve,
Q40: According to _, when real GDP is
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