A 1% increase in output tends to correspond to a less-than-1% decrease in the unemployment rate. What are the three "slippages" that occur between changes in output and changes in the unemployment rate?

Question

Quizplus · Accepted Answer

The Answer of A 1% increase in output tends to correspond to a less-than-1% decrease in the unemployment rate. What are the three "slippages" that occur between changes in output and changes in the unemployment rate?

A 1% Increase in Output Tends to Correspond to a Less-Than-1