state the both -cyclical and classical
State the both -Cyclical and Classical unemployment
Cyclical unemployment
Unemployment because of a recession.
Classical unemployment
Unemployment because of real wages being too high (for instance through minimum wage laws).
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state the both -cyclical and classical unemploymentcyclical unemploymentunemployment because of a recessionclassical unemploymentunemployment because
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state in brief the nominal wage level in macroeconomics we are generally not interested in the wage for a specific individual though in the average
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