Okuns law
Describe Okun's law? Give an illustration of how it works.
Expert
The Okun’s Law is an empirical relation between unemployment and output/GDP. It was found by the economist named ARTHUR OKUN, who used US data and found that for every 1% rise in unemployment, GDP falls by 2%. This is the cost of unemployment.
Illustrate whether output generated for self consumption is comprised or not comprised in the value of output? Answer: The output generated for self consumption is
Gross domestic capital formation is always greater than gross fixed capital formation
Fiscal policy measures used for achieving full-employment level of output and price include increase in the government expenditure and cut in tax rates. A cut in tax rates eliminates only the adverse effect of high tax rates, whereas an increase in government expendit
Land, capital and labor are all scarce since: (1) advertising mainly over stimulates human wants. (2) once employed they cannot be used again. (3) each productive resource needs a monetary return for its employ. (4) inheritance under a capitalism prot
DISCUSS the experience of high GNP countries and low GNP with regard to PQLI.
‘What occurs in the money market when there is a raise in income?’
The most probable of the following to be a poorer good for most American families who purchase some of each of such products throughout a given year would be: (i) Plastic surgery. (ii) College textbooks. (iii) Films on DVD. (iv) Cup-a-Noodles soup. (v) Downloads for t
Open-Economy Macroeconomics Suppose the structure of an economy with a flexible exchange rates is represented by: C = 200 + 0.85*(Y - T) &n
Use economic theory to explain the inflation movements and factors influencing it. Use relevant models to explain the impact of changes in fiscal and monetary policies in curtailing inflation.
Redistribution of Income: Each and every economy strives to achieve a society, where inequality of income and wealth must be minimum. In order to attain this objective via government budget the government spends adequate money on social security schem
18,76,764
1944164 Asked
3,689
Active Tutors
1434334
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!