Potential GDP is $5,000 billion and the natural unemployment rate is 5 percent.Based on these data, complete the table below by using Okun's law to calculate real GDP for the different unemployment rates.
$\begin{array}{cc}
\begin{array}{c}
\text { Unemployment rate } \
\text { (percentage) }
\end{array} & \begin{array}{c}
\text { Real GDP } \
\text { (billions of } \
\text { 2005 dollars }
\end{array} \
\hline 3 & - \
4 & - \
5 & - \
6 & \
7 &
\end{array}$

Question

Potential GDP is $5,000 billion and the natural unemployment rate is 5 percent.Based on these data, complete the table below by using Okun's law to calculate real GDP for the different unemployment rates.
 $\begin{array}{cc}
\begin{array}{c}
\text { Unemployment rate } \
\text { (percentage) }
\end{array} & \begin{array}{c}
\text { Real GDP } \
\text { (billions of } \
\text { 2005 dollars }
\end{array} \
\hline 3 & - \
4 & - \
5 & - \
6 & \
7 &
\end{array}$

Quizplus · Accepted Answer

The Answer of Potential GDP is $5,000 billion and the natural unemployment rate is 5 percent.Based on these data, complete the table below by using Okun's law to calculate real GDP for the different unemployment rates.
 $\begin{array}{cc}
\begin{array}{c}
\text { Unemployment rate } \
\text { (percentage) }
\end{array} & \begin{array}{c}
\text { Real GDP } \
\text { (billions of } \
\text { 2005 dollars }
\end{array} \
\hline 3 & - \
4 & - \
5 & - \
6 & \
7 &
\end{array}$

Potential GDP Is $5,000 Billion and the Natural Unemployment Rate