Okun's alpha is α = 2 and potential GDP equals YP = 10,000. Currently there is no cyclical unemployment in this country. The nominal wage equals W = 10,000 and the general price level is P = 100. In this country natural unemployment is percent and the real GDP equals .

The equation for the Okun's curve below is: y=-0.2489x+0.6414. R^2=0.3469. If the growth rate of GDP in NZ was 1.5 percent in 2020, the change in the unemployment rate will be __.

Suppose based on the past twenty years of data the estimating equation for Okun’s Law is ut – ut-1 = –0.4 (gt – g*), where g*, the normal (or benchmark) growth rate of output, is equal to 3%. If the current rate of unemployment is 9% what is the minimum growth rate of output needed over five years to reduce the unemployment rate to 5%?

Suppose that the "equilibrium" unemployment rate is 5% during these years.  Use Okun's Rule of Thumb and the data from the previous question to predict what the unemployment rate would have been in 2020.Group of answer choicesapproximately 2.4%approximately 5%approximately 7.6%approximately 15%need more information to determine the correct answer

The figure below depicts the economy of Altrua, which is presently in equilibrium. Enter your responses below rounded to one decimal place.a. The size of its recessionary gap is $ .b. The size of this gap as a percentage of its actual GDP is %.c. If the natural rate of unemployment is 6%, use Okun’s law to calculate the amount of actual unemployment in Altrua.    The actual rate of unemployment is %.

In the news,the claim is that the Australian economy is experiencing an expansionary output gap of 4 percent.If the Okun's law coefficient is B=2 and the natural rate of unemployment is 4 percent, what is the unemployment rate? O 6% ○2% ○-2% ○-1% ○1%