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Please see attachmentDEPARTMENT OF BUSINESS, ACCOUNTING AND SPORT MANAGEMENTECON 201- PRINCIPLES OF ECONOMICS

Please see attachment

DEPARTMENT OF BUSINESS, ACCOUNTING AND SPORT MANAGEMENT

ECON 201- PRINCIPLES OF ECONOMICS I

ASSIGNMENT #7

Instructor: Dr. Kingsley Nwala


QUESTIONS:
(1) When an economy is operating inside its production possibilities curve, is the actual unemployment rate in that economy greater or less than the natural unemployment rate?

(2) When the actual unemployment rate is below the natural rate of unemployment, will the GDP gap be positive or negative, and why?

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