1. Long-Term Effects of Unemployment. Why might you expect individuals who were unemployed in their 20s to have lower wages at the age of 40 than individuals with identical educational backgrounds but...

1. Long-Term Effects of Unemployment. Why might you expect individuals who were unemployed in their 20s to have lower wages at the age of 40 than individuals with identical educational backgrounds but who were not unemployed?

2. Duration of Unemployment. What do you think are the job prospects for workers who have been unemployed for more than 2 years? Does the probability of them finding a job increase or decrease as time passes?