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
E None of these 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.

Practice Next
×
×