Choose the most obviously correct option. Cyclical unemployment is positively related with the growth rate of output. In the last decades, the wage premium of high skill workers has increased because they have become relatively scarce. In the last decades, the wage premium of high skill workers has increased because recent innovations are biased in favour of skilled workers. The natural rate of unemployment increases in recessions and falls in expansions.
Choose the most obviously correct option. Cyclical unemployment is positively related with the growth rate of output. In the last decades, the wage premium of high skill workers has increased because they have become relatively scarce. In the last decades, the wage premium of high skill workers has increased because recent innovations are biased in favour of skilled workers. The natural rate of unemployment increases in recessions and falls in expansions.
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter6: Macroeconomic Measurements, Part I: Prices And Unemployment
Section: Chapter Questions
Problem 7WNG
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![Choose the most obviously correct option.
Cyclical unemployment is positively related with the growth rate of output.
In the last decades, the wage premium of high skill workers has increased because they
have become relatively scarce.
In the last decades, the wage premium of high skill workers has increased because
recent innovations are biased in favour of skilled workers.
The natural rate of unemployment increases in recessions and falls in expansions.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0bbb5c51-1060-4bb2-9510-148287164ff0%2Fffc3e567-c036-422c-8526-6fc4605a2942%2Fbdk78xk_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Choose the most obviously correct option.
Cyclical unemployment is positively related with the growth rate of output.
In the last decades, the wage premium of high skill workers has increased because they
have become relatively scarce.
In the last decades, the wage premium of high skill workers has increased because
recent innovations are biased in favour of skilled workers.
The natural rate of unemployment increases in recessions and falls in expansions.
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