Okun's law finds that output gaps and unemployment rates are _____ related in a _____ ratio.
A) positively; one-to-one
B) negatively; less than one-to-one
C) positively; less than one-to-one
D) negatively; one-to-one
Correct Answer:
Verified
Q229: Suppose an economy's aggregate price level increases
Q230: If an economy finds itself in a
Q231: Disinflation:
A)entails eliminating inflation in an economy.
B)policy is
Q232: When inflation is high:
A)people will increase their
Q233: Which of the following could lead to
Q235: During an inflationary gap:
A)the unemployment rate is
Q236: A negative output gap is associated with
Q237: The long-run Phillips curve shows that:
A)there is
Q238: The short-run Phillips curve:
A)depicts the positive relationship
Q239: The long-run Phillips curve:
A)depicts the negative relationship
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