Scribd
Upload
47 views2 pages

Pradeep Answers

The document discusses GDP, unemployment rate, and their relationship from 2000-2020 with charts and data points. It also notes there is an inverse relationship between GDP and unemployment rate according to Okun's law.

Uploaded by

Vinoj Mno
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
47 views2 pages

Pradeep Answers

The document discusses GDP, unemployment rate, and their relationship from 2000-2020 with charts and data points. It also notes there is an inverse relationship between GDP and unemployment rate according to Okun's law.

Uploaded by

Vinoj Mno
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 2

7.

unemployment rate and GDP

a.

GDP (2000-2020)
16,000,000.00

14,000,000.00

12,000,000.00

10,000,000.00

8,000,000.00

6,000,000.00

4,000,000.00

2,000,000.00

-
00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20
20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20

Unemployment Rate (2000 - 2020)


10
9
8
7
6
5
4
3
2
1
0
1995 2000 2005 2010 2015 2020 2025
b.

Quarterly GBP and Unemployment Rate Change (2000 - 2020)


10

0
0 5 10 15 20 25

-5

-10

-15

-20

C. There is an inverse relation ship GDP and Unemployment rate if the GDP increases the unemployment
rate will decrease if the GDP reduces the unemployment will increase.

According to Okun's law looks at the statistical relationship between a country's unemployment and
economic growth rates. Okun's law says that a country's gross domestic product (GDP) must grow at
about a 4% rate for one year to achieve a 1% reduction in the rate of unemployment.

You might also like