Which of the Following Is True in Regards to Okun's

question 52

Multiple Choice

Which of the following is true in regards to Okun's law?

• A)employment does not increase commensurately with output rises because firms tend to hoard labor
• B)when demand increases,firms tend to work their employees harder and longer
• C)it is Okun's prediction of the negative relationship between the output and unemployment gaps that allows the modern Phillips curve to be translated into the AS curve
• D)all of the above
• E)none of the above

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Definitions:

Contingent Work

Employment that is uncertain, unpredictable, or not guaranteed, often with irregular hours and lack of job security.

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The rapid advancement and spread of information technology since the late 20th century, transforming society and communication.

Technological Innovation

The introduction and application of new technologies or improvements to existing technologies to create more effective products, processes, or services.