4 Nov 2021
Problem 5
Page 779
Section SELF: CHECK QUESTIONS
Chapter 32: Macroeconomic Policy Around the World
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4 Nov 2021
Introduction
Cyclical unemployment is a subset of total joblessness that arises primarily from market cycles of ups and downs. During times of recession, joblessness tends to grow, but during booms, it tends to fall. A significant reason for studying economics and the purpose of the many policy tools that administrations use to boost the economy is to reduce cyclical unemployment throughout downturns.
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