What explains the data the columnist is quoting

Reference no: EM131303770

A columnist in the New York Times writes: "So, according to Okun's Law, the unemployment rate should have gone from 7.4 percent at the start of [2009] to 9 percent a year later. Instead it was 10 percent in December [2009], and not much lower in January [2010]."

a. What is Okun's law?

b. What explains the data the columnist is quoting?

Reference no: EM131303770

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