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Q1. Read the case given below carefully and answer the questions that follow. Flo is a middle-aged, small-town housewife. She worked before her marriage, but

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Q1. Read the case given below carefully and answer the questions that follow. Flo is a middle-aged, small-town housewife. She worked before her marriage, but when she and her husband started their family, she quit her job to be a full-time housewife and mother. She never questioned her family values of hard work, independence, belief in free enterprise, and scorn of government handouts. When her youngest child left the nest, she decided to nish the college education she'd only just started when she married. After getting her degree, she looked for a job, but found the market for middle-aged women with no recent experience to be depressedand depressing. The state employment ofce where she sought listings recognized her abilities and gave her a temporary job in that very ofce. Because she was a \"temp,\" however, she was the rst to be laid off when the state legislature cut the local office budget but she'd worked long enough to be eligible for unemployment insurance. She hesitated about applying since handouts were against her principles. But while working there she'd seen plenty of people, including her friends, applying for benefits after work histories even slimmer than hers. She decided to take the benets. While they lasted, she found family finances on almost as sound a footing as when she was working. Although she was bringing in less money, net family income didn't suffer much since she didn't have Social Security withheld nor did she have the commuting and clothing expenses of going to a daily job. Required: (a) Briefly describe the macroeconomic problem(s) that this case embodies. (2 marks) (b) \"Keynesians and Classicals differ in their view on whether it is the individual or the society that should address the problem of unemployment.\" Explain and support your answer using this case. (4 marks) (c) From this case, identify two causes and two consequences of unemployment. (4 marks)

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