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Explain how unemployment could be voluntary or involuntary .
Start off with a definition of the labour force and then outline the proportion of the labour force which would be unemployed even when the labour market is in equilibrium - this having of frictional, seasonal and structural unemployment. Classical/monetarist theory looks at any unemployment in excess of the natural rate of unemployment as voluntary - as these labourers are not accepting jobs at the going real wage rate. Keynesians, on the other hand, sight this as involuntary, or demand deficient.
Review: Full, Anonymous: No Answer each of the following questions using economic theory covered in this lesson. 1. Marginal revenue product is defined as the change in total
COMBINED FINANCES OF UNION AND STATES: Taxes on goods and services are levied in India in various forms and at different levels of Government, Centre, states, and local bodies
What is the formula for heat and how do you solve it?
Problem 1: (a) Differentiate between positive and negative externalities? Justify your answer using examples. (b) To what extent do government policies influence externali
So what caused the end of Malthusian age? How did humanity escape from the trap in that invention and ingenuity increased the numbers though not the material well-being of humanity
How is microeconomics differed from macroeconomics? Microeconomics focuses onto how decisions are made through individuals and firms and the effects of those decisions. For exa
Increase in Productivity and Real Wage Earnings: Labour has been charged that whereas it presses for higher wages through trade unions, it has failed to raise productivity. Sh
Use two market diagrams to explain how an increase in state subsidies to public colleges might affect tuition and enrollments in both public and private colleges.
Distinguish among the terms of trade and the balance of trade for a country. Definition of terms of trade a) The amount of a given amount of export goods essential to buy
What is Diverstification?
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