1.4 [related to the Economics in Practice on p. 245] According to the Organization for Economic Cooperation...
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1.4 [related to the Economics in Practice on p. 245]
According to the Organization for Economic Cooperation and Development (OECD), labor productivity increased and unemployment also increased in Australia from 2013 to 2014. Explain why an increase in labor productivity and an increase in unemployment are not likely to coincide in the long run.
Can you think of any explanation for these changes to simultaneously occur in the long run?
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Related Book For
Principles Of Microeconomics
ISBN: 9789813107342
12th Global Edition
Authors: Karl E. Case, Sharon E. Oster, Ray C. Fair
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