A GDP gap = actual GDP - potential GDP Use the above graph about the hypothetical country of WonderWorld to answer the following questions. 1. During which year(s) is this economy experiencing a positive output gap: 2. During which year(s) is this country experiencing an Actual Unemployment Rate that is greater than the Natural Unemployment Rate? 3

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A GDP gap = actual GDP - potential GDP Use the above graph about the hypothetical country of WonderWorld to answer the following questions. 1. During which year(s) is this economy experiencing a positive output gap: 2. During which year(s) is this country experiencing an Actual Unemployment Rate that is greater than the Natural Unemployment Rate? 3. During which year(s) is cyclical unemployment equal to zero for this economy?

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