Economics · Macroeconomics
According to Okun's Law (gap version), a 1% increase in the unemployment rate above its natural rate leads to approximately what change in GDP relative to potential GDP?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 10.5% fall in GDP
- 23% fall in GDP
- 32% fall in GDP✓
- 41% fall in GDP
Correct answer
2% fall in GDP
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