Full-employment
Define the "full-employment" or "natural" rate of unemployment and give its approximate percentage rate as economists currently define it.
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This is the unemployment that exists in the economy even when it is at full employment. The latter does not mean that everyone in the labour force is employed. There will still be some people who are in the midst of changing jobs and are thus unemployed with a job letter in hand to join the new job at a later date. This is called frictional unemployment. It represents unemployment as a result of people switching jobs.
Explain the term Shut Down Price? Illustrate it.
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Illustrate whether output generated for self consumption is comprised or not comprised in the value of output? Answer: The output generated for self consumption is
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Give a short history of how banking evolved into the sophisticated operation. Start first with the Goldsmith and sum up with the Banking system which we experience nowadays.
In the figure shown below, line T0 depicts a tax system which is: (1) Progressive. (2) Regressive. (3) Proportional. (4) Unbiased. (5) Recessive. Q : Public debt How does an internally held How does an internally held public debt differ from an externally held public debt?
How does an internally held public debt differ from an externally held public debt?
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how to calculate national income under value added method
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