Which of the following shows a negative relationship between the output and unemployment gaps?
A)the AS curve
B)the Phillips curve
C)Okun's law
D)the classical dichotomy
E)none of the above

Question

Quizplus · Accepted Answer

Okun's law describes a negative relationship between the output gap and the unemployment gap, indicating that as output increases, unemployment tends to decrease, and vice versa.

Which of the Following Shows a Negative Relationship Between the Output