Difference between frictional-structural-cyclical
Elucidate the differences among the frictional, structural, and cyclical forms of unemployment.
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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.
A prosperous person who made higher and higher incomes yearly would possibly benefit most from: (w) proportional tax system. (x) progressive tax system, much like the one in place today. (y) regressive tax system. (z) fixed percentage tax system. Q : Subjective worth of Consumer Surplus The consumer gains from being capable to purchase at a single price rather than paying all that the particular quantity of the good is subjectively worth are: (i) Adverse selections. (ii) Market exploitation. (iii) Consumer surpluses. (iv) Moral hazards.
The consumer gains from being capable to purchase at a single price rather than paying all that the particular quantity of the good is subjectively worth are: (i) Adverse selections. (ii) Market exploitation. (iii) Consumer surpluses. (iv) Moral hazards.
Economic systems differ according to which two main characteristics?
Describe cost-push inflation and its major source.
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Meaning: - as mentioned above, the balance of payments is a periodic accounting of international economic transactions. Each country having regular economic transactions with other countries prepares periodically the final accounts of their foreign receipts and paymen
What do you mean by the term Equilibrium? Also state its proper definition.
what are the four factor of economic growth
A tax will be backward-shifted totally when the: (i) demand curve is vertical and the supply curve is slopes up. (ii) demand curve slopes down and the supply curve is vertical. (iii) supply curve is perfectly elastic and the demand cu
Describe any two measures by which a Central Bank can attempt to decrease the gap. Answer: Central bank can decrease this gap by adopting two measures illustrated b
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