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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

The U.S. unemployment rate increased from Chapter 21, Problem 44CTQ, The U.S. unemployment rate increased from in July to by June Without studying the subject in any , example  1 in July Chapter 21, Problem 44CTQ, The U.S. unemployment rate increased from in July to by June Without studying the subject in any , example  2 to Chapter 21, Problem 44CTQ, The U.S. unemployment rate increased from in July to by June Without studying the subject in any , example  3 by June Chapter 21, Problem 44CTQ, The U.S. unemployment rate increased from in July to by June Without studying the subject in any , example  4 Without studying the subject in any detail, would you expect that a change of this kind is more likely to be due to cyclical unemployment or a change in the natural rate of unemployment? My?

To determine

Whether the rise in U.S. unemployment rate is due to cyclical unemployment or due to the natural rate of unemployment is to be determined.

Explanation

Cyclic unemployment is usually the main cause of higher rate of unemployment which is considered high at a rate of 8%. This is the main factor as it is dependent on the business cycle. When the economy steps into expansion phase of business cycle, the unemployed worker will get a job again. So, this type of unemployment is a temporary phase.

The change in the rate of unemployment is caused due to fluctuations in the business cycles...

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