Respuesta :
The overall quantity supplied will increase if the price level rises while the money wage rate stays the same. This occurs because we are aware that while prices are growing, input costs are not rising at the same rate.The answer is an increase in Real GDP.
The law of supply states that the amount supplied and price level are positively correlated. Thus, the supply curve will continue to trend upward. This suggests that there is now more real GDP being produced.When there is a recession, unemployment rises and real GDP growth slows.When there is a broad decline in economic movement, there is a recession, which is a trade cycle withdrawal in economics. It typically occurs when spending completely decreases.According to Okun’s law, when unemployment decreases by 1%, the gross national product (GNP) grows by 3%. This is a very clear affirmation of the relationship between rising unemployment and declining GDP.The relationship between unemployment and GDP is the focus of another interpretation of Okun’s law.According to this, a 2% decline in GDP is caused by an increase in unemployment rates.
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