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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

Would you expect hidden unemployment to be higher, lower, or about the same when the unemployment rate is high, say Chapter 21, Problem 33CTQ, Would you expect hidden unemployment to be higher, lower, or about the same when the unemployment , example  1 versus low, say Chapter 21, Problem 33CTQ, Would you expect hidden unemployment to be higher, lower, or about the same when the unemployment , example  2 Explain.

To determine

Hidden unemployment refers to joblessness which are not observed directly in unemployment reports or in reports of prospective job seekers but comes out when you dig deeper on reports, surveys on unemployment during recessionary period of economy.

Explanation

Based on the question, it is obvious that during higher unemployment, hidden employment will also be greater. Unemployment is a resulting factor of downturn and recession of economy. What happens during this time is that though the supply side remains adequate, demand for goods comes down. (The same is happening in China since the early days of 2019)...

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