1. Draw the Classical labor market diagram below. Show the effect of the fall in labor demand. In this model, point out unemployment.

2. According to the Classical labor market theory, explain why we had mass unemployment during the Great Depression. Why do people call it 'voluntary unemployment'?

3. According to Keynes's General Theory Ch. 2, there are two main reasons why the labor supply (Postulate

#2 is inaccurate. Explain

Reason #1

Reason #2

https://www.marxists.org/reference/subject/economics/keynes/general-theory/ch02.htm