Which of the following are consistent with the observed relationship between growth in real GDP and changes
Question:
Which of the following are consistent with the observed relationship between growth in real GDP and changes in the unemployment rate as shown in Figure 8-5? Which are not?
a. A rise in the unemployment rate accompanies a fall in real GDP.
b. An exceptionally strong business recovery is associated with a greater percentage of the labor force being employed.
c. Negative real GDP growth is associated with a fall in the unemployment rate.
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Both parts a and b are consistent with the relationship illustrated in F...View the full answer
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