Problem
Although Okun's law holds for different countries, more flexible labor markets result in a higher response of unemployment to changes in GDP. During the recent crisis real GDP decreased in the United States, Germany, and France. Considering that the U.S. labor market is more flexible than European labor markets, would you expect the same increase in unemployment in these three countries?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.