Classical Unemployment
Unemployment caused by some form of real wage rigidity
(i) Minimum wage laws
[You need to know how minimum wage creates classical unemployment]
(ii) Trade Unions
[You need to know how the presence of trade unions result in classical unemployment.]
(ii) Efficiency wages [Please refer to the notes I have uploaded for you on efficiency wages. For this you also need to know the reasons why firms offer efficiency wages]
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