If Okun's Law holds true, then a 3% increase in GDP would lead to a ________ percentage point decrease in the unemployment rate.
A. 9
B. 6
C. 3
D. 1
Answer: D
You might also like to view...
A nation's account with the IMF is called its
A) quota subscription. B) capital account. C) deposit surplus. D) current account.
Product differentiation refers to:
A. firms who offer similar products to their competitors' products, but that are more attractive in some way. B. the process of creating a standardized product with a lower-cost method than the competitors' method. C. the process of informing the public of differences in products as a result of error. D. consumers who sort and group goods based on similar characteristics.
Which of the following are not consumer durable goods? a. Automobiles
b. Washing machines. c. Air conditioners. d. Paperback books.
A market basket:
A. is a tool devised to track how changing prices affect consumers. B. includes all the goods and services consumed in an economy, including imports. C. includes all the goods and services produced in an economy. D. includes all the goods and services consumed in an economy, including net exports.