At what phase of the business cycle is the average duration of unemployment likely to be the highest? Explain.
Answer to relevant QuestionsExplain whether it would be desirable to have zero unemployment.Explain how the current account of the balance of payments is likely to vary with the course of the business cycle.In what way may short-term demand-management policies help to stabilise the economy? What problems occur in the use of such policies?Why is it difficult to predict the size of the accelerator?What effects will the following have on the equilibrium rate of interest? (You should consider which way the demand and/or supply curves of money shift.)(a) Banks find that they have a higher liquidity ratio than they ...
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