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1. Use the search model of unemployment to answer the following questions: (a) Determine the effects of a decrease in El on the reservation wage

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1. Use the search model of unemployment to answer the following questions: (a) Determine the effects of a decrease in El on the reservation wage and on the long run unemployment rate, in the search model of unemployment and explain your results. (b) What are the moral hazard problems associated with El? Refer to both the search model and the efficiency wage model. Briefly discuss government solutions to these problems

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