Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
what is okun''s law ? In economics study, Okun's law also named after Arthur Melvin Okun is an empirically observed relationship relating among unemployment to losses in a specific country's production. The "gap version" shows that for every 1% increasing in the rate of unemployment, a country's GDP will be at additional roughly 2% lower than their potential GDP. The "difference version" shows the relationship among quarterly changes in unemployment & quarterly changes in real GDP. The stability & usefulness of the law has been disputed. The term refers to economist Arthur Okun who proposed this relationship in 1962.
Imperfect relationship
Okun's law is more precisely known "Okun's rule of thumb" due to it is primarily an empirical inspection rather than a result resulting from theory. Okun's law is estimated because factors other than employment for example as productivity affect output. In Okun's real statement of his law, a 3% increase in resultant output corresponds to a 1% decline in the rate of unemployment; a .5% increase in labor force participation; a .5% increase in hours worked per an employee; and a 1 % increase in output per hours worked called labor productivity.
What is Cost-push inflation Cost-push inflation takes place when costs of production increase causing short-run aggregate supply curve to shift to left. The main causes of c
Please answer the question below relating it to BUSINESS in today's world. What are the major tenents of the ethical theory of Utilitarianism, and how would this theory be appli
Define the tools of Competitive market. Competitive market: The supply and demand model a. The demand curve b. The supply curve c. Factors which cause the demand cu
Q. What do you mean by Patulin? It is a toxic and antibiotic metabolite produced by several species of Penicillin, Aspergillus and Paeciliomyces but the most important in the c
Determine the principle of equity The principle of equity is that a tax must be fair and the tax is levied on those with the ability to pay tax. The principle of efficiency
Take a look at the sugar market: US demand: Q=60-2/3 P US domestic supply: Q=P Also, the US could import any quantity from world producers at (US$) 10/cents per lb a) In a sc
what is the formula for calculating investment multiplier for 4 sector economy?
Panzer is a U.S. company. It originated in the 1970s as a family-owned business that manufactures fine watches. The family continued to build the company by reinvesting profits in
Q. Explain the basic characteristics of IS-curve? IS-LM diagram IS-curve The IS curve shows all combinations of R and Y where the goods marketis in
Rewrite the national-income model (3.23) in the format of (4.1), with Y as the first vari¬able. Write out the coefficient matrix and the constant vector.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd