Unemployed workers in Bosnia could receive up to 30 weeks of unemployment insurance. However, during a recent recession, the government extended the eligibility period to 45 weeks
How is this change in policy likely to affect the labor market in Bosnia?
Such a policy is likely to have complex effects on the labor market in Bosnia. Lengthening eligibility to 45 weeks will reduce the hardships that unemployed workers suffer and give them more time to find a job that is a good fit for their skills, but lengthened eligibility will also partially reduce the incentive for unemployed workers to find new jobs. This will shift the labor supply curve of Bosnia to the left, which, holding all else equal, will reduce employment.
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A____________is a graph showing the various quantities supplied at each and every price that might prevail in the market.
Fill in the blank(s) with the appropriate word(s).
Consider the game between the teens from the previous question. The pure-strategy Nash equilibrium is (equilibria are)
a. Both Declare. b. Both Ignore/Rebuff. c. There are two: in one, both Declare, and in the other, both Rebuff/Ignore. d. There are two: in both, the teens do the opposite of each other.