So, I'm having problems with this question.
"The economy is producing $8 Billion in real GDP, approximately what is the unemployment rate?"

Question

So, I'm having problems with this question. 
"The economy is producing $8 Billion in real GDP, approximately what is the unemployment rate?"

anonymous · Answer

Is there a specific line I should look at?

anonymous · Answer

Curve**

anonymous · Answer

Ultimately, I was going to say that it is in its full-employment equilibrium since it occurs at the full-employment output;  when the downward sloping AD curve, the short-run AS curve , and the vertical long-run AS are intersecting. However, I'm not quite sure how to tackle this one.

anonymous · Answer

Are you sure that you gave all the information? I feel that something is missing.

anonymous · Answer

I'm afraid that's all. On the SS below, it shows everything the question provides, I was capable of finding the first part; however, unsuccessful on the second part.

anonymous · Answer

Since as you said the three curves intersect each other then there is full employement, this means that the unemployment rate is the natural unemployement rate above 0%. You can't get an exact value of the rate but you can give an approximation.

anonymous · Answer

YES! Gaahh! You confirmed my "it is in its natural unemployment rate" possibility. I was going to go along those lines, but had always struggled to answer it that way. Good! Thanks, now I know what to say.