Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
6 Cards in this Set
- Front
- Back
Different kinds of unemployment
|
-Frictional: people changing jobs, first time entering workforce, reentry into workforce
-Structural: goods/services not in demand -Cyclical: decline in total demand for goods/services |
|
Impacts of unemployment
|
reduced spending, reduced revenue, goods can't be replaced, depression
|
|
impacts of inflation
|
hurts those who spend less and save more, CEO and property owners benefit, debtors benefit, full employment, increases rises
|
|
different kinds of inflation
|
-demand-pull inflation: demand > supply
-Cost push inflation: increased cost of goods/services |
|
monetarist equation
|
M x V = T x P
T = num transactions P = average level of prices value of total purchases (T x P) must equal quantity of money (M) times times money changes hands (V) |
|
increasing costs
|
the idea that production costs rises as the quantity of output of good increases. Reason why most countries have limited specialization.
|