Author Question: Although the relationship between output and the unemployment rate is not as simple as Okun's Law ... (Read 92 times)

Caiter2013 · **on:** Apr 19, 2019

Question 1

If Okun's Law holds true, then a 9% increase in GDP would lead to a ________ percentage point decrease in the unemployment rate.

◦ 1
◦ 2
◦ 3
◦ 6

Question 2

Although the relationship between output and the unemployment rate is not as simple as Okun's Law represents it to be, it is
true that

◦ a 1% increase in output tends to correspond to a greater than 1% decrease in the unemployment rate.
◦ a 1% increase in output tends to correspond to a less than 1% decrease in the unemployment rate.
◦ a 1% increase in output tends to correspond to a 1% decrease in the unemployment rate.
◦ a 1% increase in output will have no effect on the unemployment rate.

chjcharjto14 · **Reply #1 on:** Apr 19, 2019

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