PS4 - Department of Economics University of California...

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. . . more Department of Economics Fall 2009 University of California Economics 100B Berkeley Professor Olney Problem Set #4 (10 points possible; 2 percent of course grade) Due: To Your GSI In Section, Thursday November 12 (Wednesday sections: turn in PS4 to your GSI before lecture on Thurs Nov 12) Follow these guidelines or your problem set will receive no points. Your answers must be on the answer sheet. Write your section day/time and GSI’s name on the answer sheet. Put your papers in this order: [1] the answer sheet on top, [2] your work (on 8½x11 paper). You must attach your work or you will receive no points. Write your name at the top of every attached page. Do not turn in this sheet of questions. Staple it all together into one set. Problem sets lose 5 points if they are 0 minutes - 24 hours late after the start of section. No problem sets accepted more than 24 hours after section/lecture begins. Your submitted work must be your own: Problem sets that are identical (in whole or in part) to another student’s problem set will receive a zero. Problem sets should NOT be left in GSI mailboxes. Papers can be stolen from mailboxes. We are not responsible for problem sets that are not handed directly to your GSI. 1. (2 points total) Okun’s Law states that the unemployment rate, u, is related to the natural rate of unemployment, u*, and the output gap. You can find a clear statement of Okun’s Law in Box 12.1 on page 330 of the textbook.
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PS4 - Department of Economics University of California...

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