Why shouldn’t every adult without a job be classified as part of the official unemployment rate? What are some problems with using the unemployment rate as an accurate measure of joblessness? Why does the unemployment rate tend to underestimate the level of labor market challenges?

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A:

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Q: Consider the following version of the short run monetary model: MD/P = exp(-0.50*i)*Y (UK) MS = M i=...

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Q: The Imitation Gap Theorem should be discarded as a practical explanation of trade pattern. Discuss.

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