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Who would be more concerned with the target rate of unemployment . . . Classical economists or Keynesian economists?
Keynesian economists would be more concerned with the target rate of unemployment.
Expert answered|biank1989|Points 45|
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Asked 8/31/2013 12:10:36 PM
Updated 12/23/2024 3:53:26 PM
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Updated 8/24/2023 12:33:56 AM
1 Answer/Comment
Unemployment generally leads to a decrease in GDP. It reduces consumer spending, lowers production, decreases tax revenue, leads to resource underutilization, and triggers a multiplier effect that amplifies the negative impact on GDP.
Added 8/24/2023 12:33:56 AM
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