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a. Referring to the diagram below, identify the type of unemployment that took place in 2020. Identify the reasons causing this decline in labor demand
a. Referring to the diagram below, identify the type of unemployment that took place in 2020. Identify the reasons causing this decline in labor demand with relevant data. Global unemployment rate from 2010 to 2020 6.57% 6N 5.9% 5.77% 5.74 5.73% 5.62% 5.66% 5.56% 5.39% 5.36% Unemployment rate 4% ON 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 @ Statista 20: (10 marks) b. With the Employee Provident Fund (EPF) withdrawal of i-Citra, EPF's account owners can withdraw RM10,000 from their account. Illustrate this impact to the labor demand using appropriate diagram(s). Can this decision be related to the monetary or fiscal policy? Why or why not? Provide one example of monetary policy or fiscal policy to stimulate more labor demand in Malaysia within the duration of 2021 to 2022. (15 marks)
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