Canada’s Real GDP is measured at $1.85 trillion. The current unemployment rate is 8.3% and the natural rate of unemploym

[answerhappygod]

Canada’s Real GDP is measured at $1.85 trillion. The current
unemployment rate is 8.3% and the natural rate of unemployment is
typically 5.5%. For Canada, Okun’s Law is typically a ratio of 1%
unemployment to 2.5% GDP. The questions are solvable with the given
information. PLEASE ANSWER ALL QUESTIONS (a-c)
a) Determine the GDP gap from our current Real GDP to our Potential
GDP at Full Employment. Show work.
b) What is the value of the Real GDP that this country could
produce before suffering from rapid inflation (Potential GDP at
Full Employment)?
c) The typical Canadian consumes an average of $93 per $100
income. Given this data regarding Canadian’s spending and savings
habits, how much money should the federal government spend to boost
the AD to full employment level?