Explain whether it would be desirable to have zero unemployment.
Answer to relevant QuestionsConsider the most appropriate policy for tackling each of the different types of unemployment.The overall balance of payments must always balance. If this is the case, why might a deficit on one part of the balance of payments is seen as a problem?What explanations can you give for the increase in both unemployment and inflation in the 1970s?What is meant by the terms narrow money and broad money? Does broad money fulfill all the functions of money?Controlling the money supply is sometimes advocated as an appropriate policy for controlling inflation. What implications do different assumptions about the relationships between M and V, and M and Y, in the equation MV =PY ...
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