III. Use the WS and PS relations to examine the effects of the following events on the natural rate of unemployment and the real wage. Be sure to explain the effects of the event on the WS and PS relations. a. A new U.S. trade policy with the hope to protect American workers decreases international trade and makes product markets less competitive in the U.S. b. A new law that bans the formation of labor unions has been passed.

III. Use the WS and PS relations to examine the effects of the following events on the natural rate of unemployment and the real wage. Be sure to explain the effects of the event on the WS and PS relations. a. A new U.S. trade policy with the hope to protect American workers decreases international trade and makes product markets less competitive in the U.S. b. A new law that bans the formation of labor unions has been passed.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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