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Author Question: How does the natural unemployment rate change and what factors might make it change? What will be ... (Read 50 times)

Starlight

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on: Jun 29, 2018
How does the natural unemployment rate change and what factors might make it change?
 
  What will be an ideal response?

Question 2

What are the sources of a country's comparative advantage?
 
  What will be an ideal response?


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flexer1n1

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Reply #1 on: Jun 29, 2018
Answer to Question 1

Changes in the natural unemployment rate arise because of changes in frictional and structural unemployment. Any factor that changes frictional unemployment or structural unemployment changes the natural unemployment rate. For instance, a change in the age distribution of the population, a change in the scale of structural changes that are occurring, a change in the minimum wage rate or efficiency wages, or a change in unemployment benefits all change the natural unemployment rate.

Answer to Question 2

The factors that contribute most to comparative advantage at the country level are:
i. Natural resources and stocks of man-made resources (technology) available
ii. Education and experience of the labor force
iii. Relative abundance of labor and capital
iv. Climate


Starlight

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

blakcmamba

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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