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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, Arthur Okun 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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