If Okun's Law Holds True, Then a 9% Increase in GDP

question 189

Multiple Choice

If Okun's Law holds true, then a 9% increase in GDP would lead to a ________ percentage point decrease in the unemployment rate.

• A) 1
• B) 2
• C) 3
• D) 6

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Definitions:

Complex

Consisting of many different and connected parts, making something difficult to understand or to find a solution for.

Formalization

The extent to which roles, rules, and procedures in an organization are standardized and written down.

Organizational Flexibility

The ability of an organization to adapt to changes, pivot strategies, and adjust its operational processes to meet business or market demands.

Learning and Creativity

Involves acquiring new knowledge or skills and applying them in novel and innovative ways to solve problems or create something new.