A) A country's natural unemployment rate is 4 percent and its actual unemployment rate is 7 percent, what is its cyclical unemployment rate? Instructions: Enter the value for the output gap as an absolute number B) According to Okun's law, this country would have a recessionary output gap of percent percent.

a. Cyclical unemployment rate = 3%

b. According to Okun's law, this country would have recessionary output gap of 6%

Explanation:

Note: The full and organized question is attached as picture below

a. A country's natural unemployment rate = 4% & its actual unemployment rate = 7%

Cyclical unemployment rate = Actual unemployment rate - Natural unemployment rate

Cyclical unemployment rate = 7 - 4

Cyclical unemployment rate = 3%

Cyclical unemployment is known to happen when the overall demand for goods and services in an economy cannot reach the level of full employment

b. Okun's law is known as the relationship between the economy unemployment rate and its Gross National Product

According to Okun's law, this country would have recessionary output gap of 6%. This comes from if a country's recessionary output gap grows by 4%, then its cyclical unemployment rate will increase by 2%

answer; i believe the correct answer is (form utility); good luck

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.