Which of the following is true in regards to Okun's law?
A) employment does not increase commensurately with output rises because firms tend to hoard labor
B) when demand increases,firms tend to work their employees harder and longer
C) it is Okun's prediction of the negative relationship between the output and unemployment gaps that allows the modern Phillips curve to be translated into the AS curve
D) all of the above
E) none of the above
Correct Answer:
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Q43: Based on the data in this table,
Q44: The natural rate of output is _.
A)independent
Q45: In the long run _.
A)the amount of
Q46: Which of the following best approximates Okun's
Q47: The short-run aggregate supply curve shows that
Q49: The short-run aggregate supply curve shows that
Q50: When wages and prices are completely flexible
Q51: How do you suppose most people form
Q52: Why is there no long-run trade-off between
Q53: According to Okun's law,an increase in which
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