Okuns law
Describe Okun's law? Give an illustration of how it works.
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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.
Please brief the knowledge what is long run supply?
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Question: A county with a fixed or managed exchange rate would consider i.___________________ its currency if the country is worried about domestic inflation. ii. Briefly Explain? Q : Okuns law Describe Okun's law ? Give an Describe Okun's law? Give an illustration of how it works.
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