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      Question

      From the following, who first examined the close

      negative relationship between the unemployment rate and the output ratio?
      A Alban W. Phillips Correct Answer Incorrect Answer
      B James Tobin Correct Answer Incorrect Answer
      C Arthur M. Okun Correct Answer Incorrect Answer
      D Robert M. Solow Correct Answer Incorrect Answer

      Solution

      In 1962,Ā Arthur OkunĀ reported an empirical regularity: a negative short-run relationship between unemployment and output. Many studies have confirmed this finding, and Okun's Law has become a fixture in macroeconomics textbooks.

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