Okum's Law?
What will be an ideal response?
shows the relationship between the unemployment rate and the size of the GDP gap
You might also like to view...
Patents provide a firm with a monopoly on a given product. What is the economic rationale for granting patents?
What will be an ideal response?
Consider the following economic agents:
a. the government b. consumers c. producers Who, in a centrally planned economy, decides what goods and services will be produced with the scarce resources available in that economy? A) producers B) consumers C) the government, consumers, and producers D) consumers and producers E) the government
In the period 1980-92, United States net national saving fell due to
A) large budget deficits and an increase in private saving. B) small budget deficits and a decrease in private saving. C) small budget deficits and an increase in private saving. D) large budget deficits and a decrease in private saving.
A recession has no benefit to society-it represents a sheer waste of resources
a. True b. False Indicate whether the statement is true or false