Suppose you are the governor of Country A and you have observed some changes in your country. Identify the likely impact on Country A with the economic concepts we have discussed in this course. i. Establishment of more labour unions in many industries in the country ii. A widespread of global pandemiciii. An abolishment of minimum wage lawiv. Much more educated workers than a decade before How would the unemployment rate be affected in each of the above cases? Identify the specific type of unemployment (frictional, structural or cyclical unemployment) affected in each case. i. An earthquake destroying many factories and roads in the country ii. A removal of restrictions on foreign workers working in the country iii. Reaching a trade agreement with many other countriesiv. An occurrence of hyperinflation in the country How would the long run economic growth of the country be affected in each of the above cases? Briefly explain your answers.
Suppose you are the governor of Country A and you have observed some changes in your country. Identify the likely impact on Country A with the economic concepts we have discussed in this course.
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i. Establishment of more labour unions in many industries in the country ii. A widespread of global pandemic
iii. An abolishment of minimum wage law
iv. Much more educated workers than a decade beforeHow would the
unemployment rate be affected in each of the above cases? Identify the specific type of unemployment (frictional, structural or cyclical unemployment) affected in each case. -
i. An earthquake destroying many factories and roads in the country ii. A removal of restrictions on foreign workers working in the country iii. Reaching a trade agreement with many other countries
iv. An occurrence of hyperinflation in the countryHow would the long run
economic growth of the country be affected in each of the above cases? Briefly explain your answers.
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