What is the value of the country potential gdp

Assignment Help Business Economics
Reference no: EM132795430

Suppose the real GDP of an economy is $480 billion dollars and its unemployment rate is 7%. If the natural rate of unemployment is estimated at 4%, what is the value of the country's potential GDP (LAS) in billions of dollars?

Reference no: EM132795430

Questions Cloud

Draw the ad and as functions : Suppose research has uncovered the following aggregate demand and supply functions for an economy:
What is the precise ethical issue in regards to autonomy : What are the facts of the case? This should include: what do we need to know, who is involved in the situation, where does the ethical situation take place
How can christians and jews find a path to reconciliation : How can Christians and Jews find a path to reconciliation after the Holocaust? Pay special attention to the work of rescuers, questions of forgiveness.
What is the effect on velocity : What is the effect on velocity if Congress outlaws the use of credit cards? Please explain.
What is the value of the country potential gdp : If the natural rate of unemployment is estimated at 4%, what is the value of the country's potential GDP (LAS) in billions of dollars?
Define what paul means by righteousness : Define what Paul means by righteousness, justification and faith. Why does Paul tell the Galatians especially (although he says the same thing in Romans).
Calculate real gdp in 2014 : In the Land of Milk and Honey, they produce two goods: Milk and Honey. In 2014, milk cost $2 a gallon and they produced 20 gallons.
What struggles african americans face during reconstruction : What struggles did African Americans face during Reconstruction? Be prepared to discuss federal government policies. Was it successful? Why or why not?
Determining the latest unemployment and inflation data : After researching the latest consumer confidence estimates, in addition to the latest unemployment and inflation estimates, do you estimate good

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd