Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

3 Cyclical unemployment is below the national average in some big cities in Canada such as Toronto, Vancouver, and Montreal. This could be a result

image text in transcribed
image text in transcribed
3 Cyclical unemployment is below the national average in some big cities in Canada such as Toronto, Vancouver, and Montreal. This could be a result of higher government spending and tax cuts in big cities. However, productivity is low. There are also concerns that structural unemployment may increase as some industries cannot compete with more efficient foreign firms. (a) Define structural unemployment. [2] (b) Explain two causes of low productivity. [4] (c) Analyse how higher government spending and tax cuts can lead to a fall in cyclical unemployment. [9] (d) Discuss whether or not competition between firms in the same industry is always a disadvantage to workers. [8]

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Bank Management

Authors: Timothy W Koch, Steven Scott MacDonald, S Scott MacDonald

6th Edition

0324289278, 9780324289275

More Books

Students also viewed these Economics questions

Question

=+b) In which application is a larger length used?

Answered: 1 week ago

Question

What reward will you give yourself when you achieve this?

Answered: 1 week ago