Question

A. The size of its recessionary gap is $ .

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

c. If the natural rate of unemployment is 5.5%, use Okun’s law to calculate the amount of actual unemployment in Altrua.

The actual rate of unemployment is %.

Answer 1

The question asks about the recessionary gap, the size of the gap as a percentage of actual GDP, and using Okun's Law to calculate actual unemployment.

Step-by-step explanation:

a. The size of its recessionary gap is $ .

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

c. If the natural rate of unemployment is 5.5%, use Okun’s law to calculate the amount of actual unemployment in Altrua. The actual rate of unemployment is %.