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According to okuna law, unemployment rate goes from 6% to 2%, what will the effect on the gdp?

Respuesta :

madison3395

Answer:

Okun was a professor at Yale who studied relationship between unemployment and productivity. He observed that for the US,when unemployment rises by 1%, then GDP is expected to fall by 2%.

So when unemployment goes from 6% to 2%, the GDP will fall by (5-2)*2 = 6%

Explanation:

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