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According to Okun's law, if the unemployment rate goes from 3% to 7%, what will be the effect on the GDP?

According to Okun's law, if the unemployment rate goes from 3% to 7%, what will be the effect on the GDP?
asked 8.9k views
2 votes
According to Okun's law, if the unemployment rate goes from 3% to 7%, what

will be the effect on the GDP?

asked
User Charles Steinkuehler
by
8.0k points

2 Answers

5 votes
The GDP should decrease by 2.5% or 2.75%
answered
User Lunohodov
by
7.3k points
2 votes

Answer: decrease in the GDP by 2.5%.

Explanation:

answered
User Imran Faruqi
by
8.0k points
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