q. 19 please help to solve

You are given the following data on the unemployment rate and output. Year 1 2 3 4 Unemployment rate 0.08 0.06 0.07 0.05 Output 970.0 1020.0 1043.5 1127.5 Y Y _ Assume that the natural rate of unemployment is 0.06 and that )7 = 2 (u - u). Find the full-employment level of output in each year. (Round your answers to one decimal place.) Year )7 1 2 3 4 The growth-rate version of Okun's law can be written as AY m7 =T2Au. y Y Calculate the growth rate of fullemployment output in year 2 using the growth rate formula shown above. Using this method, the growth rate of full-employment output in year 2 is %. (Round your answer to one decimal place.) Now calculate the growth rate of full-employment output in year 2 by nding the percentage change in the numbers that you found in the rst step of this problem. Using this method, the growth rate of full-employment output in year 2 is %. (Round your answer to one decimal place.) Note that the answers are not too different because the approximation used in the growth rate equation is fairly similar to the exact calculation given by the second method