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5.The steady-state unemployment rate is defined on the separation rate, s, and the find rate, f. a.If s = 0.03 and f = 0.5, find

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

a.If s = 0.03 and f = 0.5, find the steady-state unemployment rate. (2mark)

b.Suppose that in initial conditions firms and labor had to seek labor/employment on their own. Discuss the consequences for the steady-state unemployment of a government policy that coordinated job seekers with employee seekers. (5marks)

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