Inflation and unemployment, Microeconomics

Inflation And Unemployment:

Inflation describes a persistent and an appreciable increase in the general price level. The inflation rate is measured as a percentage change in a price index, such as the consumer price index.

Demand Pull Inflation describes a sustained increase in the general price level that is caused by a permanent increase in nominal aggregate demand. Cost Push or Supply Inflation is a situation where the process of increasing price level is caused by increasing costs of production which push up prices.

Unemployment refers to a situation where who are willing and able to work do not find jobs at the existing wage rate. For a person to be referred to as unemployed he or she must be qualified for a job, willing to work at the current wage rate and unable to find a job.

Posted Date: 1/3/2013 12:21:02 AM | Location : United States







Related Discussions:- Inflation and unemployment, Assignment Help, Ask Question on Inflation and unemployment, Get Answer, Expert's Help, Inflation and unemployment Discussions

Write discussion on Inflation and unemployment
Your posts are moderated
Related Questions
Explain in detail the concept of PPC with suitable eg.

WORLD TRADE ORGANISATION (WTO): The International Trade Organisation (ITO), originally, was proposed to be set up along with the World Bank and the IMF on the recommendations

Question 1: (a) Clearly illustrate the features of a perfectly competitive firm. (b) How would the same industry change if it were organized first as a competitive industr

Development Administration: Since the Government has been entrusted to manage economic and business activities, it was found difficult to manage the economic policy with the t

Determinants of Private Demand for Education Rates of return on investment in education is only one of the factors determining the demand for private investment though it is

what is marginal costs?

explain what will happen to price , the marginal cost of rice, and the quantity produced if the government sets a production quota of 2000 bags a week. draw a graph and explain you

how slustky equation provides neat analytical expression for substitution and income effect?

E-goods are returning to price levels which we thought they had left behind, again the inevitable price elasticity. Why is it so certain that price elasticity will cause those pric