Between June 2017 and June 2018, the employment rate in the United Kingdom increased by 5.73 percent,
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Between June 2017 and June 2018, the employment rate in the United Kingdom increased by 5.73 percent, whereas GDP increased by 1.2 percent. How is it possible for output to increase at a lower rate than employment?
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The situation youve described where employment increases at a higher rate than GDP can occur due to a combination of factors Here are a few explanatio...View the full answer
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Related Book For
Principles Of Macroeconomics
ISBN: 9781292303826
13th Global Edition
Authors: Karl E. Case,Ray C. Fair , Sharon E. Oster
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