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Types of unemployment:Frictional Unemployment:-It refers to unemployment caused by changes in individual labour markets.This is the type of unemployment resulting from people who have left jobs that did not work out and are searching for new employment or people who are either entering or re-entering the labour force to search for a job.Structural Unemployment: This is unemployment resulting from changes in the pattern of demand for goods and services or changes in technology. These changes may in turn alter the structure of the total demand for labour rendering some particular skill less in demand or may become obsolete. The demand for other skills however may expand. Unemployment in this case is the result of the composition of the labour force which does not respond quickly to new structures of job opportunities.Cyclical Unemployment: This is the type of unemployment resulting from decline in real aggregate output in the economy. It can also be defined as unemployment caused by deficiency of aggregate or total spending. This is sometimes referred to as deficient-demand unemployment.
What does Keynesian consumption function say about tax cuts
-1- ASSIGNMENT #1 The demand function for Product X is given by: Qdx = 80- 2Px- 0.05P²x -0.2Py + 4Pz + 0.01I+ 2A Where: Px Price of good X $120.00 Py Price of related good y $100.0
What are the basic questions to be answered by economic institution? Four fundamental questions should be answered by any economic institution as: a. What goods and services
1) Describe (with an example) how trading can lead to an increase in world output if countries specialize in the good in which they have a comparative advantage. How does the intr
what is microeconomics
1). Define and explain the concept of an externality. Provide examples of both positive and a negative externality. 2). The Prisoner's Dilemma Exercise:
ADMINISTRATIVE REFORMS - ECONOMIC POLICY: During the last few decades, phenomenal changes are taking place at a fast rate in the field of science and technology as well as in
#queUse a graphical illustration to describe briefly what the influence of each of the following would be on the market supply of labor:(a) an increase in immigration (b) more wome
Elasticity of Demand This is a measure of how responsive the sales volume of goods is to changes in that product's price, equal to the marginal change in sales, divided by the
role of www in ecommerce
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