Paper 3 question: Unemployment

IB Economics: Paper 3 question: Unemployment

This question is worth [30 marks]. This paper is based on the new syllabus and contains a policy response question.1. A country finds that the supply and demand functions for labour are as follows:Supply of labour = 5 million + (wage in $ x 1.25 million) Demand for labour = 18.75 million - (wage in $ x 1.5 million)a. Complete the following table based on the supply and demand functions provided and highlight the equilibrium...


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