Empirically output growth 1% above normal for one year leads to a ________ in the employment rate.
A)0.6%
B)0.7%
C)0.8%
D)0.5%

Name: Empirically output growth 1% above normal for one year leads to a ________ in the employment rate. A)0.6% B)0.7% C)0.8% D)0.5%
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According to Okun's Law, a 1% increase in output above normal typically results in a 0.6% decrease in the unemployment rate, which implies a 0.6% increase in the employment rate.

Empirically Output Growth 1% Above Normal for One Year Leads