The economy of Omega operates according to Okun's law.In Omega,potential GDP and actual GDP equal $7 trillion,and the actual rate of unemployment equals 6%.What is the natural rate of unemployment in Omega?
A) 4%.
B) 5%.
C) 6%.
D) 7%.
E) 8%.
Correct Answer:
Verified
Q129: The economy of Alpha operates according to
Q130: In Macroland,a country that operates according to
Q131: The economy of Alpha operates according to
Q132: If the actual rate of unemployment is
Q133: The economy of Alpha operates according to
Q135: If the actual rate of unemployment is
Q136: If the actual rate of unemployment is
Q137: In Okunland,a country that operates according to
Q138: In Okunland,a country that operates according to
Q139: In Macroland,a country that operates according to
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents