Really tough Economics question. Giver a try..?
The Canadian real GDP in 2005 was $1,157.705 billion. Also in 2005, the unemployment rate was 6.8% and the output gap was 0.2% of potential output. (a)What was the potential output of the Canadian economy in 2005? (b) What was the dollar value of the output gap? (c) Using Okun's Law, determine the natural unemployment rate in Canada in 2005. (d) It's estimated that the real GDP for 2006 will be $1,193.632 billion. Assuming that the potential output and natural unemployment rate remain at the 2005 levels, calculated in (a) and (c), what would the unemployment rate be for 2006? (e) Stats Canada reports that real GDP was $1,189.535 billion and the unemployment rate was 6.3% in 2006. If the natural unemployment rate remains at the 2005 level calculated in (c), what was the potential output in 2006?
Answer:
i failed gcse maths 4 times this gives me a headache give a thousand word essay on shakespeare anytime
As much as you want someone to give you the answer it really doesnt help, trust me I was in your same predicament last semester I would come on here expecting you guys to do my HW, come test time I didnt know anything so even if I getting good grades on the HW doesnt help, I still failed the class. I know its tough to swallow but this problem is solvable once just look up the equation for solving GDP, you are the one with the book not us, you are the one taking the class not us. If you arent understanding something go to the teacher that is what they are there for. Stop being so darn lazy, get off that playstation, turn of the TV and do your dogone work!
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Answer:
i failed gcse maths 4 times this gives me a headache give a thousand word essay on shakespeare anytime
As much as you want someone to give you the answer it really doesnt help, trust me I was in your same predicament last semester I would come on here expecting you guys to do my HW, come test time I didnt know anything so even if I getting good grades on the HW doesnt help, I still failed the class. I know its tough to swallow but this problem is solvable once just look up the equation for solving GDP, you are the one with the book not us, you are the one taking the class not us. If you arent understanding something go to the teacher that is what they are there for. Stop being so darn lazy, get off that playstation, turn of the TV and do your dogone work!
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