15. The negative relationship between the gap between actual GDP and its trend value and the difference between actual unemployment rate and its equilibrium value is called: A. The Phillips Curve. B. The IS curve. C. The LM curve. D. The aggregate supply curve. E. The Okun's law.

15. The negative relationship between the gap between actual GDP and its trend value and the difference between actual unemployment rate and its equilibrium value is called: A. The Phillips Curve. B. The IS curve. C. The LM curve. D. The aggregate supply curve. E. The Okun's law.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter21: Unemployment

Section: Chapter Questions

Problem 3SCQ: Over the long term, has the U.S. unemployment rate generally trended up, trended down, or remained...

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Question

15. The negative relationship between the gap between actual GDP and its trend value
and the difference between actual unemployment rate and its equilibrium value is called:
A. The Phillips Curve.
B. The IS curve.
C. The LM curve.
D. The aggregate supply curve.
E.. The Okun's law.

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