Suppose one economist believes target rate of unemployment

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Suppose one economist believes the target rate of unemployment is 4.2 percent while another believes it is 5.3 percent. Using Okun’s rule of thumb, by how much would you expect their estimates of potential GDP to differ in an $11 trillion economy?

Instructions: Enter your answer to the nearest whole dollar amount.

$ billion difference.

Reference no: EM13818500

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