existing unemployment safety net levels, there is the problem of labor immobility. Most out-of- work ... Figure 13.1 shows a decrease in the demand for labor would reduce the equilibrium wage as wages fall from W 1 to W2. At the new wage ofanbsp;...
|Title||:||The American Economy: How It Works and How It Doesn't|
|Publisher||:||M.E. Sharpe -|