• Identify and describe the current level of unemployment in terms of current and potential GDP?

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• Identify and describe the current level of unemployment in terms of current and potential GDP?

2007-03-20 20:17:57 · 1 answers · asked by shauna m 1 in Social Science ➔ Economics

1 answers

The 2006 GDP for the US was $12.98 Trillion. The unemployment rate was 4.5%

If you dd 4.5% to $12.98 trillion assuming all of the people were employed you get $13.56 Trillion

So potential GDP was $13.56 Trillion or greater.

2007-03-21 09:26:11 · answer #1 · answered by Santa Barbara 7 · 0⤊ 0⤋