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Unformatted text preview: Each 1% decrease in output growth causes u to increase by .4 percentage points. c. Unemployment does not change. Output growth must be 3% to keep u constant. 3. See textbook page 185: labor hoarding and exits from/entries to the labor force. 4. See textbook/class notes and the Focus box on page 187 (Okuns Law across countries). 5. Section 14.1 1. See textbook/class notes. 2. See textbook/class notes. 1...
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This note was uploaded on 12/22/2011 for the course MACROECON 301 taught by Professor Christinanagy during the Fall '09 term at University of Washington.
- Fall '09