Final answer:
The actual rate of unemployment in Alpha, an economy operating above its potential GDP, is lower than the natural rate of unemployment, which is 5%. However, exact figures cannot be determined from the information provided without the specific Okun's law coefficient.
Step-by-step explanation:
The question is about calculating the actual rate of unemployment in an economy that operates according to Okun's law. Given that the potential GDP is $500 billion and the actual GDP is $520 billion, which is above potential, this indicates that the economy of Alpha is above full employment.
Considering that the natural rate of unemployment is 5%, and that economies above full employment have an actual unemployment rate less than the natural rate, it would be logical to conclude that the actual unemployment rate in Alpha is less than 5%. However, without further data or a specific Okun's law coefficient, we cannot calculate the precise unemployment rate. Typically, a higher actual GDP than potential GDP suggests that the economy is likely experiencing lower unemployment than normal, but the exact figure requires additional information not provided in the question.