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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Principles Of Microeconomics

ISBN: 9789813107342

12th Global Edition

Authors: Karl E. Case, Sharon E. Oster, Ray C. Fair

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