Assume that there is a severe economic downturn in the UK with a resulting sharp rise in unemployment. As a student of microeconomics discuss the likely impact that this would have. Now do the same...

Assume that there is a severe economic downturn in the UK with a resulting sharp rise in unemployment. As a student of microeconomics discuss the likely impact that this would have. Now do the same thing from the point of view of a macroeconomics student.