The table below shows some macroeconomic data for the economy of Langhorne. GDP values are in billions of dollars. GDP (actual) unemployment rate (U%) 2012 GDP gap 2381 9.4 2013 2014 2015 2016 2518 2643 2787 8.7 7.9 2421 9.3 2012 2013 8.2 185 182 2017 Use Okun's Law to complete the table below. Assume that Langhorne has a natural rate of unemployment of 6.3% for all years shown. Round all values to zero decimal points. 2914 8.0 2014 2015 2016 2017

Macroeconomics: Private and Public Choice (MindTap Course List)
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Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
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Chapter8: Economic Fluctuations, Unemployment, And Inflation
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The table below shows some macroeconomic data for the economy of Langhorne.
GDP values are in billions of dollars.
GDP (actual)
unemployment rate (U%)
2012
GDP gap
2381
9.4
2013
185
2421 2518
9.3
2012 2013
2014 2015 2016
182
8.7
2643
8.2
2787
7.9
Use Okun's Law to complete the table below. Assume that Langhorne has a natural
rate of unemployment of 6.3% for all years shown. Round all values to zero decimal
points.
2017
2914
8.0
2014 2015 2016 2017
Transcribed Image Text:The table below shows some macroeconomic data for the economy of Langhorne. GDP values are in billions of dollars. GDP (actual) unemployment rate (U%) 2012 GDP gap 2381 9.4 2013 185 2421 2518 9.3 2012 2013 2014 2015 2016 182 8.7 2643 8.2 2787 7.9 Use Okun's Law to complete the table below. Assume that Langhorne has a natural rate of unemployment of 6.3% for all years shown. Round all values to zero decimal points. 2017 2914 8.0 2014 2015 2016 2017
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