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1) Determine the difference between structural unemployment and cyclical unemployment? What kind of unemployment is best examined in the long-run framework? describe why? Does unemployment rate underestimate or overestimate unemployment problem? Describe. If unemployment rises by 2 percentage points, what will probably occur to output in United States? Inflation, on average, makes people neither richer nor poorer. Hence it has no cost. True or false? Describe.

 

Business Management, Management Studies

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