Describe the unemployment rate in the next quarter.

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You are the chair of the Malaysian Economic Council. There has been an extremely hot weather due to a climate change. As a result, crop production has fallen drastically. The Prime Minister’s office calls you to discuss the impact on the economy. Would you explain to the Prime Minister that a sharp drop in Malaysia’s crop production would cause inflation, unemployment or both? Discuss.

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Chapter 8, Problem 21QP

To determine

Describe the unemployment rate in the next quarter.

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