Suppose that the government institutes a program to help unemployed workers learn new skills, find new jobs,

Question:

Suppose that the government institutes a program to help unemployed workers learn new skills, find new jobs, and relocate as necessary to take the new jobs.
a. If this program reduces structural unemployment, what is the effect on the expectations-augmented Phillips curve and the long-run Phillips curve?
b. The government program is expensive, and critics argue that a cheaper way to cut unemployment would be by monetary expansion. Comment
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Macroeconomics

ISBN: 978-0321675606

6th Canadian Edition

Authors: Andrew B. Abel, Ben S. Bernanke, Dean Croushore, Ronald D. Kneebone

Question Posted: