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Business, 30.06.2021 03:00 straightbarz8901
Suppose the population of a country is 1.1 million and the labor force is 800,000. 760,000 are employed. Assume that full-employment occurs at a 4 percent unemployment rate at a real GDP level of $100 billion. Based on the information above use Okun's Law to find how much potential GDP has been lost because the economy is not at full employment
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Suppose the population of a country is 1.1 million and the labor force is 800,000. 760,000 are emplo...
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