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    differences in their unemployment rate

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    A 30 year worker and a 60 year old are identical in terms of skill, search costs and the wage offer distribution they face.

    (i) Explain why these workers will have different asking wages.
    (ii) Why would search theory explain the differences in their unemployment rate?

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    https://brainmass.com/economics/unemployment/differences-in-their-unemployment-rate-80028

    Solution Summary

    This posting accounts for differences in their unemployment rates.

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