Peter Fragiskatos at the Finance Committee

On March 18th, 2021. See this statement in context.

March 18th, 2021 / 12:35 p.m.

Liberal

Peter Fragiskatos Liberal London North Centre, ON

Thank you, Mr. Chair.

Thank you, Mr. Lee and Mr. Robson, for being here.

Mr. Lee, I was quite interested when you mentioned the economist Arthur Okun. Thank you very much for bringing his example to the committee. You will be familiar with Okun's law, which states that for every 1% increase in the unemployment rate, there is a consequent and very dramatic decline in GDP.

Have I understood Okun's law correctly?

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