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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Related Book For
Economics Private And Public Choice
ISBN: 9780123110404
2nd Edition
Authors: James D Gwartney; Richard Stroup; A H Studenmund
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