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High unemployment is socially wasteful. Why? What is convergence hypothesis? Why should we expect convergence in the long run?

High unemployment is socially wasteful. Why?

What is convergence hypothesis? Why should we expect convergence in the long run?

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High Unemployment is Socially Wasteful High unemployment leads to various social and economic harmsmaking it wasteful from a societal perspectiveHere are some reasons why Lost economic output Unemploy... blur-text-image

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