according to this law, when unemployment goes up by 1%, gdp drops by 2%. in the question, unemployment rate goes from 2% to 5%, meaning unemployment goes up by 3%, so the gdp drops by 6%. thus the effect is a drop in gdp by 6%.
step-by-step explanation:
Answer from: Quest
option (b) is correct
step-by-step explanation:
to find the solution of this system, we need to convert it into reduced row-echelon form. we have,
after applying row operations r2 -> r2/2 and r3 -> r3/3, we get,