Two markets concerned with unemployment in the circular flow?
Thursday, March 02, 2023
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Question: Two markets concerned with unemployment in the circular flow?
The two markets in the circular flow concerned with unemployment are the labor market and the goods and services market. In the labor market, individuals who are unemployed seek employment opportunities and businesses seek to hire workers. High levels of unemployment can lead to a surplus of labor, which may result in lower wages and reduced consumer spending. In the goods and services market, businesses produce goods and services that are consumed by households, and high levels of unemployment can reduce consumer demand and result in lower prices.
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