ANS ONLY 2 PLEASE THANKS Suppose you live in a community of 5,000 people where everyone wants to work and seeks employment. If 4,000 people are over 16 years old and 3,000 of them are employed, what is the unemployment rate in this community?What are the three major types of unemployment? What are their causes?Discuss the costs associated with high inflation.Describe the four phases of the classical business cycle explaining how employment is typically affected during each phase?

Inflation is a systematic measure of the rate at which the price level of a basket of goods and…

Answered: Discuss the costs associated with high…

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter21: Unemployment

Section: Chapter Questions

Problem 41CTQ: Unemployment rates have been higher in many European countries in recent decades than in the United...

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ANS ONLY 2 PLEASE THANKS

Suppose you live in a community of 5,000 people where everyone wants to work and seeks employment. If 4,000 people are over 16 years old and 3,000 of them are employed, what is the unemployment rate in this community?

What are the three major types of unemployment? What are their causes?
Discuss the costs associated with high inflation.
Describe the four phases of the classical business cycle

explaining how employment is typically affected during each

phase?

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