According to Okun's rule of thumb, if trend growth is 2 percent, and unemployment increases from 6 percent to 8 percent, what would be expected to occur with respect to income?
A) Income would fall by 4 percent.
B) Income would rise by 4 percent.
C) Income would fall by 2 percent.
D) Income would rise by 2 percent.
Correct Answer:
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