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Question on UnN ( eg Qn 4) Main focus is on the familiarity of the types of unN in capital of Singapore causes and the appropriate policies to solve them. alternating(prenominal) unemployment arises during a bring downturn in a business cycle. Students should explain the appliance prima(p) to such unemployment due to potpourris in gather quest utilise AD/AS model. They may discuss it in the scope of a global slowdown and its impact on Singapore frugality which is trade driven. They may also flesh knocked out(p) how unemployment in the export oriented sector could have wider logical implication than on non-export sectors, including non-tradable service sector rudimentary idea: Cyclical unemployment is related to the business cycle. During the upswing of a trade cycle (expansion), aggregate direct increases, conduct to rising output and prices. Thus, cyclical unemployment go out fall. However, during the downswing (recession or depression), aggregate dem and decreases, leading to an increase in cyclical unemployment. Therefore, cyclical unemployment is sometimes referred to as demand-deficient unemployment. Structural unemployment arises when the economy undergoes economic restructuring where skills of some workers are non in demand.

Basic idea: Structural unemployment arises when changes in technology or worldwide competition change the skills needed to fulfil jobs or change the location of jobs. If there is a stable fall in the demand for the product of a busy industry, the output provide have to be bring down and unemployment will result. If the re is a permanent fall in the demand for the! product of a particular industry, the output will have to be reduced and unemployment will result. Credit should be awarded to students who are able to lucubrate structural unemployment in the mount of Singapore. In recent years Singapore govt has restructured the economy which requires unsanded set of skills eg knowledge-based, research in biological sciences, high value-added industries,...If you deprivation to get a complete essay, order it on our website: OrderCustomPaper.com

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