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A6. Clark and Oswald (2002) estimate that the average British person would need to be compensated f15,000 ($22,500) per month after losing their job in

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A6. Clark and Oswald (2002) estimate that "the average British person would need to be compensated f15,000 ($22,500) per month after losing their job in order to be as happy as they were when they were employed." TURN OVER a) This evidence favours the interpretation of unemployment as voluntary. b) This is less than the estimated loss of earnings of an average worker who became unemployed at that time. c) This evidence is an indicator that employment rents are non-negligible

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