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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.
What is the difference between GDP and GNP? Gross domestic product (GDP) is the value of the total final output formed inside a country, during a given year. GDP, like all mea
meaning of economics laws
theory of profit
The average price level has increased at a relatively rapid rate since 2008 even though the deep recession that UK experienced in 2008/09. The growth in the price level has been dr
Problem 1: i) Is Protectionism always beneficial? Discuss. ii) To what extent can a country actually rely on the principle of Comparative advantage before engaging in in
Demand Curve The demand curve is a graph which presents the amount of a good that consumers are willing and able to buy at various prices. A normal demand curve is downward slo
NEW CLASSICAL BUSINES CYCLE THOERY: Yang, Xioaokai, Economics: New Classical versus Neoclassical Frameworks, Oxford: Blackwell Publishers. The book goes on to rigorously dev
what are the values of real money supply and the current price level
Implementation of economic policy: On the ability of civil servants and Government to learn, Government must possess the following qualities to ensure implementation of econom
Mathematical Derivation of ordinary demand function: Here we present the mathematical and more general proof of the above result. Consider, again, the initial price income sit
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