(a) What was the unemployment rate in 2013? (b) How many jobs were needed to bring the...

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(a) What was the unemployment rate in 2013?

(b) How many jobs were needed to bring the unemployment rate down to the 5 percent full-employment threshold?

(c) Using Okun’s Law, how more much would total output (GDP) have had to grow to create that many jobs?

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The Macro Economy Today

ISBN: 978-1259291821

14th edition

Authors: Bradley R. Schiller, Karen Gebhardt

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