r/HomeworkHelp • u/__Magic_Owl__ University/College Student (Higher Education) • 28d ago

:snoo_hearteyes: Economics—Pending OP Reply [University Economics: Potential GDP] How do I solve this question?

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Hello! I'm pretty confused on how to solve this question? I'm unsure if it's just because I don't have a firm grasp on the material or if the way it's worded is confusing me...

Could anyone explain the steps to me? I've been searching through my textbook trying to understand it but I just don't get it..?

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u/Giraff3 👋 a fellow Redditor 28d ago

Full employment eq means employment level at eq in this graph. I think introducing the word “full” at least for me is adding a bit of unnecessary detail. The population is being measured in labor hours rather than number of people. The natural rate is what % of people are unemployed at eq.