6. Cyclical unemployment results because aggregate demand for labor is insufficient to maintain full employment. A primary

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6. Cyclical unemployment results because aggregate demand for labor is insufficient to maintain full employment. A primary concern of macroeconomics is how cyclical unemployment can be minimized. If unemployment resulting from deficient aggregate demand could be eliminated, the actual output of the economy would be able to reach its full potential.

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Economics Private And Public Choice

ISBN: 9780123110404

2nd Edition

Authors: James D Gwartney; Richard Stroup; A H Studenmund

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