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1.The steady-state unemployment rate is defined on the separation rate, s, and the find rate, f. a.If s = 0.03 and f = 0.21 the

1.The steady-state unemployment rate is defined on the separation rate, s, and the find rate, f.

a.If s = 0.03 and f = 0.21 the steady-state unemployment rate is 12.5%. In many countries labor laws make it very difficult for a firm to fire a non-productive worker. Discuss how relaxing these laws might increase s, decrease f and change the steady-state unemployment rate.

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