Final answer:
In Omega's economy, where actual and natural rates of unemployment are both 5% and potential GDP is $10 trillion, real GDP is also $10 trillion (Option A).
Step-by-step explanation:
Okun's Law posits that when the actual unemployment rate aligns with the natural unemployment rate, the economy operates at full employment, and real GDP corresponds to potential real GDP. Applying this principle to the hypothetical economy of Omega, where both the actual and natural unemployment rates stand at 5 percent, and the potential GDP is $10 trillion, we can infer that the economy is functioning at its full capacity.
In this scenario, the parity between the actual and natural unemployment rates signifies an optimal utilization of labor resources. Okun's Law implies that the economy has achieved a state of equilibrium, where cyclical unemployment is minimized. Consequently, this alignment points to real GDP being at its potential level, which is indicated as $10 trillion.
The assertion that the economy is operating at full employment and has a potential GDP of $10 trillion implies that the actual GDP of Omega coincides with this figure. Therefore, based on Okun's Law and the provided information, we can reasonably conclude that the real GDP in Omega is indeed $10 trillion. Hence, the correct answer to the question is A, reflecting a real GDP of $10.0 trillion for the Omega economy under these conditions.