A high unemployment rate in any economy is a symptom of dysfunctionality in the economy. People need income to be able to consume, and consumption leads to production and production leads to a higher demand for labor (employment), so unemployment is a crucial macroeconomic issue that confronts all modern economies. Discuss?

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High unemployment is often considered a symptom of dysfunctionality in an economy and it can have farreaching consequences on both individuals and the ... View the full answer