If Okun's Law Holds True, Then a 3% Increase in GDP

question 173

Multiple Choice

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

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Definitions:

Timely

Occurring at a suitable or opportune moment, often implying promptness or appropriateness in timing.

Communicating

The act of conveying information or expressing ideas and feelings through verbal, non-verbal, written, or visual means.

Majority

The greater part or number; more than half of a total.

Time

A continuous, measurable quantity in which events occur in a sequence from the past through the present to the future.