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Item$3$

$10$

points

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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 $

$10$

$.$

b$.$ The size of this gap as a percentage of its actual GDP is

$2\mathrm{.}5$

$\%.$

c$.$ If the natural rate of unemployment is $4\%,$ use Okun$$s law to calculate the amount of actual unemployment in Altrua.

The actual rate of unemployment is

$\%.$

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