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- what kind of relationship is between GDP and unemploymentIn an economy, if 5 percent of the employed lose their job every month (s = 0.05) and 15percent of the unemployed find a job every month (f = 0.15), what is the steady rate ofunemployment of the economy?The GDP takes inflation into account and uses adjusted market prices. frictional O real adjusted O cyclical O re-evaluated
- Pls help with below homwork. From the given data, calculate the unemployment percentage.During contractionary face of business cycle which of the following most likely occurs? Which of the following pairs of terms is used to describe fluctuation in the economy?2a. a. Define the term Gross Domestic Product (GDP)? What are the two ways tomeasure GDP? b. How is U-3, the standard measure of unemployment calculated? Critics state that this measure understates the true level of unemployment. Why? c. What is the cause of frictional unemployment? And structural unemployment?
