The idea that a 1% increase in the output gap will lead to a decrease in the unemployment rate of 0.5% is known as _____ law.
A) Okun's
B) Okun's.
C) Phillips's
D) Phillips's.
E) Greenspan's
F) Greenspan's.
G) Keynes's
H) Keynes's.
Correct Answer:
Verified
Q122: The difference between the _ and _
Q123: If output and employment both rise over
Q124: Okun's law suggests that a _ increase
Q125: According to current estimates of Okun's law,
Q126: The equilibrium unemployment rate is 4%, and
Q128: When the output gap is positive, the
Q129: Economists report that employment has fallen over
Q130: If potential output is higher than actual
Q131: When the actual unemployment rate is equal
Q132: When the output gap is _, the
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