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Unemployment and Its Natural Rate
28 Unemployment and Its Natural Rate
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Figure 1 Breakdown of the UK Adult Population in 2010
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Figure 2 The Labour Market Experience of Different Groups
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Figure 3 UK Unemployment Rate Since 1971
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Figure 4 EU Unemployment – December 2009
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Figure 4 Unemployment from a Wage Above the Equilibrium Level
Labour supply Surplus of labour = Unemployment Labour demand Minimum wage LD LS WE LE Quantity of labour Copyright © Cengage Learning
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