According to Okun's Law, Each Extra Percentage Point of ________

question 70

Multiple Choice

According to Okun's law, each extra percentage point of ________ unemployment is associated with a ________ widening of a negative output gap, measured in relation to potential output.

• A)frictional; 2 percent
• B)frictional; 0.5 percent
• C)cyclical; 2 percent
• D)cyclical; 0.5 percent

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Definitions:

TOT Effect

The "Tip-of-the-Tongue" phenomenon, where a person cannot recall a specific word or term even though it feels just out of reach.

Serial Position Effect

A cognitive phenomenon where an individual tends to remember the first and last items in a series better than the middle items.

Phi Phenomenon

The Phi Phenomenon is the optical illusion of perceiving continuous motion between separate objects viewed rapidly in succession, foundational in the study of motion perception.

Implicit Memory Effect

The implicit memory effect refers to the influence of previous experiences on performance of a task without conscious recollection of those experiences.