what is the relationship between gdp and unemployment?\nwhen gdp rises, unemployment usually rises.\nwhen…
what is the relationship between gdp and unemployment?\nwhen gdp rises, unemployment usually rises.\nwhen gdp drops, unemployment usually drops.\nwhen gdp drops, unemployment usually stays the same.\nwhen gdp rises, unemployment usually drops.
Answer
Brief Explanations:
GDP (Gross Domestic Product) measures the economic output of a country. When the economy grows (GDP rises), more goods and services are produced, leading to more job - creation and thus a drop in unemployment. Conversely, when GDP drops, economic activity slows, businesses may cut jobs, and unemployment rises.
Answer:
When GDP rises, unemployment usually drops.