Hysteresis effect explains fluctuations in the natural rate of unemployment. True or False? Explain.
Hysteresis effect explains fluctuations in the natural rate of unemployment. True or False? Explain.
Homework Answers
True.
Due to fluctuations or shocks in the industry , say for eg a negative demand shock increases unemployment ,and reduced no of employees bargains for higher wages or make a deal after the economy revives , thus causes an Hysteresis ie unemployment is significantly lower ,even . after the economy revives and thus explains fluctuations in natural rate of unemployment.
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Hysteresis effect explains fluctuations in the natural rate of
unemployment. True or False? Explain.
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graphically demonstrate the effect of a decrease in union membership on the natural rate of unemployment
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true or false
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