Let’s say Okun’s law is right, and that it works immediately.

Let’s say Okun’s law is right, and that it works immediately.If we want to reduce unemployment by 4%, and the GDP is currently $14 trillion, and the multiplier is 3, how much of a stimulus program, in dollars, would be needed to accomplish this goal?this is just a discussion question no word limit is required.

Okun’s law, when applied to annual data in the U.S., yields the following relationship:% change in GDP = 3% – 2*(% change in unemployment rate)Given: we want to reduce unemployment by 4%…

 
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