Question
In many countries, despite growth in GDP, surplus labor did not disappear, as predicted by the Lewis model, and was merely relocated. Explain this statement.
In many countries, despite growth in GDP, surplus labor did not disappear, as predicted by the Lewis model, and was merely relocated. Explain this statement. Hint: Think about the causes of unemployment.
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Intermediate Microeconomics
Authors: Hal R. Varian
9th edition
978-0393123975, 393123979, 393123960, 978-0393919677, 393919676, 978-0393123968
