Difference between frictional-structural-cyclical
Elucidate the differences among the frictional, structural, and cyclical forms of unemployment.
Expert
Frictional unemployment refers to the unemployment they exist when economy is at full employment level. It is also called NAIRU. It results from a institutional structure of the labour market and its social habits that impact on the behaviour of workers and firms.
Cyclical unemployment is the unemployment in excess of frictional unemployment and occurs when the economy is at below full employment level. It is caused when the economy is undergoing cyclical changes as part of the business cycle
Structural unemployment results from rigidities in the structure of an economy’s labour market and institutions. This is typically manifested in a mismatch of the requirements in labour market and the available skill set.
Explain the impact of changes in fiscal and monetary policies in curtailing inflation?
Fiscal deficit: Fiscal deficit is stated as the surplus of total expenditure over total receipts, apart from borrowings. Fiscal deficit = Total expenditure (Rev. Exp. + Cap. Exp.) – Total Receipts
Whenever people can’t purchase all of a good they are willing and capable to pay for at present market price, there is surely a market: (1) Price ceiling. (2) Price floor. (3) Shortage. (4) Anomaly. (5) Surplus. Please
is studying economic worth your time and effort
Describe open market operations? What is its consequence on availability of credit? Answer: Open market operations signify the purchase and sale of government secur
Individuals maximize the satisfaction whenever the marginal utilities of all goods are: (i) Precisely proportional to the consumer’s income. (ii) Maximized. (iii) Precisely proportional to the opportunity costs of consuming them. (iv) Equivalent
Illustrate a point on consumption curve at which APC = 1. Answer: APC = C/Y = 1 is possible when C = Y, that is, Consumption is
Government tax and transfer payments generally
Illustrate which budget expenses does not result in the creation of assets or reduction of liability. Give illustrations too.
Meaning of Fiscal policy:Fiscal policy is the set of decisions and principles of a government regarding the extent of public expenses and mode of financing them. It is about the attempt of g
18,76,764
1959795 Asked
3,689
Active Tutors
1456851
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!