anonymous
  • anonymous
Hi,if the unemployment rate reduces by 2% in a country,what impact does it has to the economy?
OCW Scholar - Principles of Microeconomics
chestercat
  • chestercat
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anonymous
  • anonymous
As you know there is trade off between inflation and unemployment. So the inflation rises by 2%(Philips relation). But due to fall in unemployment rate, the output in the economy increases which further lead to increase in income of the workers & hence demand.

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