Explain and describe how an increase in unemployment will affect: a. Human Efficiency Units (H)? b....
Explain and describe how an increase in unemployment will affect:
a. Human Efficiency Units (H)?
b. GDP?
Homework Answers
a. Human efficiency units is the ability to avoid wastage, energy, efforts and money so that productivity increases. When the unemployment increases the number of people with skill sets become jobless which reduces the output and hence efficiency decreases
b. GDP, is the value of output produced by a nation in a particular financial year. So, when the unemployment increases, the output decreases as more number of people lose jobs, reduces demand for goods and hence GDP decreases.
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Explain and describe how an increase in unemployment will
affect:
a. Human Efficiency Units (H)?
b....
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