Order the answer to: You are given the following data on the unemployment rate

EssayParlour business-economics Order the answer to: You are given the following data on the unemployment rate

business-economics

Order the answer to: You are given the following data on the unemployment rate

Question a. Assume that the natural rate of unemployment is 6% and that ( – Y)/ = 2{u – u}. Find the full-employment level of output in each year.
b. Calculate the growth rate of full-employment output in years 2, 3, and 4 two different ways. First, calculate the growth rates by using the values for full-employment output that you found in part (a). Then calculate the growth rate of full-employment output by using only the change in the unemployment rate, the growth rate of output, and the growth-rate version of Okun’s law, Eq. (3.7). Compare your answers from the two sets of calculations.
Subject business-economics

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