The Economy of Alpha Operates According to Okun's Law

question 112

Multiple Choice

The economy of Alpha operates according to Okun's law.In Alpha,potential GDP equals $500 billion,the natural rate of unemployment is 5%,and the actual rate of unemployment is 3%.What is actual GDP in Alpha?

• A) $480 billion.
• B) $490 billion.
• C) $500 billion.
• D) $510 billion.
• E) $520 billion.

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Definitions:

Langdon Winner

An American philosopher of technology who focuses on the social and political implications of technology.

Human Agency

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Easily Reproducible

Referring to items or content that can be quickly and effortlessly copied or duplicated.