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18iq 18iq
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A year ago
Scenario: Consider Country A with a population of 2 million people. In Country A, there are 1.5 million people employed; 0.3 million younger than 18, in school or retired; 0.1 million voluntarily unemployed; and 0.1 million people officially unemployed.


Refer to the scenario above. If the market clearing wage rate in Country A decreases, what is most likely to happen to the number of voluntarily unemployed people and the number of officially unemployed people?

▸ The number of voluntarily unemployed people would stay the same, and the number of officially unemployed people would increase.

▸ The number of voluntarily unemployed people would increase, and the number of officially unemployed people would decrease.

▸ The number of voluntarily unemployed people would decrease, and the number of officially unemployed people would increase.

▸ Both numbers would increase.
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Macroeconomics

Macroeconomics


Edition: 3rd
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jasmjasm
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A year ago
You make an excellent tutor!
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Helped a lot
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Thank you, thank you, thank you!
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