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Tuesday, May 31

ECO 403 GDB Solution

ECO 403 GDB Solution
Semester 2011

Unemployment is an economic problem as well as a social issue.
It affects the living of all the people in a society whether they are
young or old, educated or uneducated, skilled or unskilled. Why
unemployment is increasing day by day in Pakistan? Write down at
least one reason.

Answer:

Unemployment is increasing day by day in Pakistan due to many
reasons. Reasons are job search and wage rigidity in the country.

*Job search:
1. Workers have different abilities and preferences.
2. Jobs have different skill requirements.
3. Geographic mobility of workers.
4. Flow of information is imperfect.

*Wage rigidity:
1. Minimum wage laws.
2. Labor unions.
3. Efficiency wages.

  • Sectoral shifts.
  • Unemployment insurance (This is for European countries)

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