What is Okun's law? According to Okun's law, if the unemployment rate increases by 2 percentage points
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 64% (14 reviews)
Okuns Law is a rule of thumb that tells how much output falls when the unemp...View the full answer
Answered By
Shadrack Mulunga
I am a Biochemistry by profession. However, I have explored different fields of study. My quest to explore new fields has helped me gain new knowledge and skills in Business, clinical psychology, sociology, organizational behavior and general management, and Project Management. I count my expertise in Project management, in particular, creation of Work Break Down Structure (WBS) and use of Microsoft Project software as one of my greatest achievement in Freelancing industry. I have helped thousands of BSC and MSC students to complete their projects on time and cost-effectively using the MS Project tool. Generally, I find happiness in translating my knowledge and expertise to success of my clients. So far, i have helped thousands of students to not only complete their projects in time but also receive high grades in their respective courses. Quality and timely delivery are the two key aspects that define my work. All those who hired my services always come back for my service. If you hire my services today, you will surely return for more. Try me today!
5.00+
154+ Reviews
289+ Question Solved
Related Book For
Macroeconomics
ISBN: 978-0321675606
6th Canadian Edition
Authors: Andrew B. Abel, Ben S. Bernanke, Dean Croushore, Ronald D. Kneebone
Question Posted:
Students also viewed these Economics questions
-
If the unemployment rate is 4 percent, it does not follow that the employment rate is 96 percent. Explain why.
-
If unemployment rises by 2 percentage points, what will likely happen to output in the United States?
-
If the manager of the First National Bank revises the estimates of the duration of the banks assets to four years and liabilities to two years, what is the effect on net worth if interest rates rise...
-
(a) Use a graphing utility to graph the curve given by (b) Describe the graph and confirm your result analytically. (c) Discuss the speed at which the curve is traced as t increases from -20 to 20. x...
-
List the inherent risk factors that affect the inventory management process.
-
Orbital Milling Services is going to replace one of its new 3-D prototyping systems. High use in the prototyping shop means the systems are not expected to last more than 5 years. If MARR is 12%, use...
-
The Azuza Company owns no plant assets and had the following income statement for the year: Additional information about the company includes: Use the preceding information to calculate the cash flow...
-
FIFO method (continuation of 17-35). Do Problem 17-35 using the FIFO method of process costing. If you did Problem 17-35, explain any difference between the cost of work completed and transferred out...
-
FlexShyft: Assume that it is March 2 , 2 0 2 0 . Assume further that you are Olivia Manavon, cofounder and CEO of the labor marketplace FlexShyft, and Jordan Maines, cofounder and Chief Technology...
-
Just need help with Exercise 02. Programming language: Java BattleField code: import imagePackage.RasterImage; import java.awt.Color; import java.awt.Composite; import java.awt.Dimension; import...
-
Define the natural rate of unemployment and cyclical unemployment. What does negative cyclical unemployment mean?
-
The production function slopes upward, but its slope declines from left to right. Give an economic interpretation of each of these properties of the production function.
-
What is a code of ethics? Give an example.
-
A membrane system treating air with 1 percent CFC-11 produces a residue with 0.1 percent CFC-11 and a permeate of 4.9 percent CFC-11 with a stage cut of 19 percent. R 0.05. (a) What is the...
-
What has changed in the previous two problems that made the solutions different? The age of cars in the staff parking lot of a suburban college is uniformly distributed from six months (0.5 years) to...
-
An 8-ft-diameter concrete drainage pipe that flows half full is to be replaced by a concrete-lined V-shaped open channel having an interior angle of \(90^{\circ}\). Determine the depth of fluid that...
-
What is the mean? A customer service representative must spend different amounts of time with each customer to resolve various concerns. The amount of time spent with each customer can be modeled by...
-
What is m? What does it represent? A customer service representative must spend different amounts of time with each customer to resolve various concerns. The amount of time spent with each customer...
-
What is no-fault insurance?
-
You are interested in investing and are considering a portfolio comprised of the following two stocks. Their estimated returns under varying market conditions are provided: (note: it is difficult to...
-
Two countries start with equal GDPs. The economy of Country A grows at an annual rate of 3 percent while the economy of Country B grows at an annual rate of 4 percent. After 25 years, how much larger...
-
Most economists believe that from 2000 to 2003, actual GDP in the United States grew slower than potential GDP. What, then, should have happened to the unemployment rate over those three years? Then,...
-
Country A and Country B have identical population growth rates of 1 percent per annum, and everyone in each country always works 40 hours per week. Labor productivity grows at a rate of 2 percent in...
-
A fair coin is tossed 2n times. What is the probability that we observe a consecutive sequence of at least n heads?
-
What is the impact of the following transaction: Business counts the supplies it has on hand at the end of the accounting period and realizes that $5,000 in supplies have been used up during the...
-
(a) A friend says "Insurance policies are a rip-off; they always have provisions that limit how much you can be compensated." You will enlighten your friend by saying . . . (b) Nestle Ghana has the...
Study smarter with the SolutionInn App