Assume that the unemployment rate is 7 percent and GDP is $4000 billion. What is a rough

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Assume that the unemployment rate is 7 percent and GDP is $4000 billion. What is a rough estimate of potential GDP if the NAIRU is 5 percent? Assume that potential GDP is growing at 3 percent annually. What will potential GDP be in 2 years? How fast will GDP have to grow to reach potential GDP in 2 years?
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Economics

ISBN: ?978-0073511290

19th edition

Authors: Paul A. Samuelson, William Nordhaus

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