Lecture 7 3

Lecture 7 3 - its level • We do not care about the...

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Unemployment … is a headache for all “able” individuals and governments Represents wasted resources – these people could have done productive activities and add to GDP Why is there always some unemployment and what determines
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Unformatted text preview: its level? • We do not care about the short-term fluctuations in unemployment. • We care about the Natural Rate of Unemployment...
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This note was uploaded on 04/03/2011 for the course ECON 2021 taught by Professor Mok during the Spring '11 term at HKU.

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