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Consider two economies, one with very strong the other with rather weak unions.Assume that the firm sector can either be more competitive. Compare the speed

Consider two economies, one with very strong the other with rather weak unions.Assume that the firm sector can either be more competitive.

Compare the speed at which the two economies adjust if both have more competitive firm sectors.

What combination of union strength and competitiveness is better if the goal is rapid adjustment to economic shocks?Explain.

Is this combination of union and firm strength good or bad for individual wellbeing?Why?

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