Murray Rothbard suggests that social taboos can eliminate the "classical" form of this phenomenon.
Murray Rothbard suggests that social taboos can eliminate the "classical" form of this phenomenon.Â  The Beveridge curve plots this against the vacancy rate. The NAIRU is a measure of this for a market with neither upward nor downward pressure on inflation. Okun's Law predicts a 2.5 percent gap in GDP for every additional one percent rise in the rate of this. Keynes argued that because wages are "sticky," this is caused by a drop in aggregate demand. For 10 points, name this statistic plotted against inflation on the Phillips Curve, which measures the percentage of people out of work. 
Murray Rothbard suggests that social taboos can eliminate the "classical" form of this phenomenon.
unemployment