IMPACT OF UNEMPLOYMENT

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IMPACT OF UNEMPLOYMENT High unemployment is both an economic and a social problem. Uncomplicated is all economic problem became it repellents waste of a valuable unemployed is a major social problem because it causes enormous suffering as unemployed workers struggle with reduced incomes, periods of high economic spills over to affect people’s emotions and lives. Get Any Economics Assignment Solved for […]

Unemployed

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Unemployed This group includes people who are not employed but are actively looking for work or waiting to return to work. To be counted as unemployed, a person must do more than simply think about work. A person must report specific efforts to find a job (such as having a job interview or sending out resumes). Get Any Economics Assignment Solved […]

MEASURING UNEMPLOYMENT

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MEASURING UNEMPLOYMENT Changes in the unemployment rate make monthly headlines. Look back to Figure 20-3 on page 419 to refresh your memory about the long-term trend. You can also look forward to Figure 32-11 on page 699 to compare the unemployment rate with the Nauru behind the numbers Statistics on unemployment and the labor force are among the most carefully designed and […]

B. UNEMPLOYMENT

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B. UNEMPLOYMENT The United States has had the good fortune to avoid a major business downturn with high and prolonged unemployment.for almost two decades; by contrast, Europe and japan spent most of the 1990s with stagnant economic conditions and massive unemployment. How can millions of people be unemployed when there is so much work to be done? What flaw in a modern […]

Why Do Short-Run AS and Long-Run AS Differ?

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Why Do Short-Run AS and Long-Run AS Differ? Why does aggregate supply behave differently in the long. and short runs? Why.do firms raise both prices and output in the short run as aggregate demand increases? Why, by contrast, do increases in demand lead to price changes with little output change.in the long run? The key to these puzzles lies […]

AGGREGATE SUPPLY IN THE SHORT RUN AND LONG RUN

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AGGREGATE SUPPLY IN THE SHORT RUN AND LONG RUN How do shifts in aggregate demand affect output and employment? This question engages one of the major controversies about modern macroeconomics the determination of aggregate supply. The major bone of contention is how aggregate supply responds to changes in demand. Economists of the Keynesian school believe that changes in aggregate- demand have a […]

Input Costs

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Input Costs The aggregate supply curve is affected not only by potential output but also by changes in the costs of production. As production costs rise, businesses are willing to supply a given ‘level of output only at how can we the relationship between potential output, costs, and aggregate supply? Figure 31-1 on page 663 illustrates the effect Of […]

Potential output is not Maximum output

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Potential output is not Maximum output We must emphasize a subtle point about potential output: Potential output is die number output but not die absolute maximum output that an economy can produce. The economy can operate with output levels potential output for a short time. and indeed this was die situation & die long economic expansion of die late 990s. Factories […]