In this column I continue to examine the basic economic concepts discussed in the articles. You will then be able to use your knowledge of the subject to apply the same principles to any topic that comes up in your exam.
In his Interpreting Economic Data column, ‘Unemployment and the recession’, Paul Turner investigates what happens to unemployment in a recession. As Turner finds out, unemployment increases. However, whether this unemployment is voluntary depends on whether you follow the monetarist or Keynesian model.
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