geld on Haloolvo quoy maotal gladwarb sibo ofsib bodaj si Actual and potential output in the United States andYearReal GDPPotential OutputПопознае бар(trillions)(trillions)2016$17.68$18.02sq si 2017$18.08D$18.322018$18.61$18.652019$19.03$19.022020$18.38$19.382021$19.43$19.78a. Calculate the output gap for each year.b. What does it mean when the output gap is negative?What does it mean when it is positive?c. For each year, calculate how much the output gapchanged. Compare this to the growth rate of actualoutput that year, less the growth rate of potentialoutput.

The actual and potential output in the United States is given as YearReal GDPPotential…

Answered: Real GDP dot si Actual and potential…

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter7: Production And Growth

Section: Chapter Questions

Problem 5CQQ

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