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Explain how unemployment changes over the business cycle


350 - 500 words or 1 - 2 pages.

Please answer ONE of the following:

  1. What are some reasons why the unemployment rate is typically lower in the United States as compared to Canada and some Western European countries?
  2. Explain how unemployment changes over the business cycle. Why do these changes occur?
  3. Explain how "menu costs" affect the slope of the short-run aggregate supply curve.

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Business Economics: Explain how unemployment changes over the business cycle
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