If the natural rate of unemployment was 6 percent, the current unemployment rate was 10 percent, and the potential GDP was $4,000 billion, then according to Okun's law the economy would have sacrificed:
A. $160 billion in output not produced
B. $240 billion in output not produced
C. $320 billion in output not produced
D. $480 billion in output not produced
C. $320 billion in output not produced
Economics
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The majority of the value of production in the world economy is produced in
A) all of the developing economies taken together. B) all of Africa and the Middle East taken together. C) China and other Asian developing economies. D) all of the advanced economies taken together. E) all of the emerging market economies taken together.
Economics
Which of the following can be considered an injection into an economy?
a. Imports b. Investment c. Aid to foreign countries d. Saving e. Taxes
Economics