For every 3% growth in output, the unemployment rate always declines 1%.

Name: For every 3% growth in output, the unemployment rate always declines 1%.
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The relationship between output growth and unemployment rate is not fixed and can vary due to factors such as labor market dynamics, productivity changes, and economic conditions. This relationship is often discussed in terms of Okun's Law, but even then, the ratio is not a constant 3:1 across different economies or periods.

For Every 3% Growth in Output, the Unemployment Rate Always