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Natural Rate of Unemployment: According to neoclassical economics, wage rate is determined by a process of labour-market clearing (in which employers and workers compete with each other, making sure that labour supply equals labour demand). Why, then, do we always observe unemployment? Neoclassical theorists argue that observed unemployment reflects structural, frictional or disguised effects which are consistent with labour market clearing. Or we can say that this ‘natural' level of unemployment is, in fact, full employment. It is fruitless, in this view, to try to decrease unemployment below this natural level: misguided attempts to do so only create inflation. Minimum wages, unions and other ‘market-inhibiting' measures will tend to increase natural rate of unemployment.
Discrimination: As a result of sexist and racist attitudes and deliberate efforts of employers to oppose groups of workers against each other, different groups of people (divided a
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Hi, Can you help with writing journals homework? It should be in english as a second language. Ten pages different topics about Karl Marx economics views. I will give you the t
Mrs Holt, 85 years old, has been admitted to acute care following a fall resulting in a fractured femur. She is a widow and lives alone with her three cats for company. a) What
what is risk diversifications
there are 1 million hours of labor available for making cars in the north, and another 1 million hours of labor available for making cars in the south. in a no-trade world, let''s
if tc is 200 what will be marginal cost?
the prevention of major swings in economic activity cn be handled most easily by the financial or government sector?
The vast majority of corn and soybeans produced in the United States is grown in the Midwestern states including: Nebraska, Iowa, Illinois, Indiana, and Ohio. This region experienc
Aggregate household indebtedness: This is the purchasing power of the sum of money outstanding that households have borrowed and are currently obligated to repay. If household
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