Assume That for the Third Quarter of 2012,actual Real GDP

question 2

Multiple Choice

Assume that for the third quarter of 2012,actual real GDP was $176.1 billion and potential real GDP was $163.9 billion.According to Okun's law,the cyclical unemployment rate during the third quarter of 2012 was

• A) -6.1%.
• B) -3.7%.
• C) 3.5%.
• D) 6.1%.

---

Definitions:

Transaction Cost

The expenses incurred when buying or selling goods or services, which may include fees, taxes, and other charges.

Contracts

Legally binding agreements between two or more parties.

Judicial System

The network of courts and tribunals responsible for interpreting and applying the law in legal cases.

Customer Relations

Customer Relations involve the strategies and techniques that businesses use to maintain and enhance interactions and relationships with their customers.