The table below shows real GDP,potential GDP and the unemployment rate for a hypothetical economy.
TABLE 30-3
-Refer to Table 30-3.The variations in the unemployment rate between 2007 and 2015 are likely due to variations in

Question

The table below shows real GDP,potential GDP and the unemployment rate for a hypothetical economy.
  TABLE 30-3
-Refer to Table 30-3.The variations in the unemployment rate between 2007 and 2015 are likely due to variations in

Quizplus · Accepted Answer

The variations in the unemployment rate between 2007 and 2015 are likely due to changes in the output gap, which reflects the difference between actual economic output and potential output, often influenced by economic cycles and demand fluctuations.

The Table Below Shows Real GDP,potential GDP and the Unemployment