Hi Fabrice Anthony. Unemployment started out at 0.06 and needs to go up to 0.16 to get the desired inflation. Thus the required change in u is 0.10 (just 0.16 - 0.06). Thus with Okun's Law, to get that 0.10 chg in unemployment we need the 0.20 change in GDP. Sorry I skipped over that part in the video!
You sir are a gentleman and a scholar. A genuine thank you for these informative videos
How did you get the 20% from Okuns law part? Would it not be 32% (0.32) Sorry if this is a stupid question, I just dont see where the 0.20 came from.
I have the same question as you...
This should come handy for exam prep, thanks!
Wow this was great. Thanks!
Thanks. who says six year old videos can't be useful?
really good one
thanks alot
thanks a lot! really helped
Yea how do you get 20%?
Hi Fabrice Anthony. Unemployment started out at 0.06 and needs to go up to 0.16 to get the desired inflation. Thus the required change in u is 0.10 (just 0.16 - 0.06). Thus with Okun's Law, to get that 0.10 chg in unemployment we need the 0.20 change in GDP.
Sorry I skipped over that part in the video!
Recorded 8 years ago, here it has helped me to do the needful in my study of economics. Thank you sir.
Kindly assist me with your email address