(a) Covid-19 pandemics has caused disruptions in economic activities in most affected countries. One of the...

(a) Covid-19 pandemics has caused disruptions in economic activities in most
affected countries. One of the worst effects is the increase in unemployment.
(i) Explain one recovery measure that can help ease the unemployed
workers.
(ii) Using the Beveridge curve and WS-PS model, explain the impact of the
recovery measure during the downturn on economy’s vacancy and
unemployment rate.

(b) (i) Discuss why a firm pays higher wages to its workers as compared to the
other similar firms in the market.
(ii) Using an efficiency wage model, derive the optimal wage equation and
explain factors affecting it.

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Expert Solution

Rahul Sunny answered 1 year ago

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