Theme 13. Unemployment and inflation are both manifestations of economic instability

Июль 28, 2022

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Экономика
Theme 13. Unemployment and inflation are both manifestations of economic instability

Содержание

2. 1. Essence and basic forms of unemployment
3. Unemployment - a condition in which the willing can not find work at the regular rate
5. Employment rate - the percentage of the adult population employed that are not on welfare, in
6. In modern conditions, employment status based on the following principles:
7. 2.The effect of unemployment rate on the value of GNP. The Law of Oaken
8. In cyclical unemployment production capacity is not fully utilized and the amount of GDP less than
9. The main method of the state employment policy are the programs for the reduction of unemployment.
10. The labor exchanges, which are:
11. 3.Inflation and its causes
12. The essence of inflation is that the national currency depreciates in relation to goods, services and
13. The types of inflation
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1. Essence and basic forms of unemployment

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Unemployment - a condition in which the willing can not find

work at the regular rate of wages.
Unemployment rate - the percentage of the unemployed to the labor force, which does not include: students, pensioners, prisoners, and boys and girls up to 16 years.
The overall unemployment rate - the percentage of the unemployed to the total labor force, including those engaged in active military service.

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Employment rate - the percentage of the adult population employed that

are not on welfare, in shelters, nursing homes, etc.
Full employment does not mean complete absence of unemployment.
Natural rate of unemployment - a set of frictional and structural unemployment and the unemployment rate is associated with a stable economy, when the real national product is at the natural rate, and lacks both slowing and accelerating inflation or when the expected rate of inflation is equal to the actual level of inflation.

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In modern conditions, employment status based on the following principles:

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2.The effect of unemployment rate on the value of GNP. The

Law of Oaken

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In cyclical unemployment production capacity is not fully utilized and the

amount of GDP less than that which would be at full employment. The difference between potential output at full employment GDP and actually achieved in cyclical unemployment GDP is GDP gap.
The Law of Oaken expresses the relationship between the level of unemployment or lost in GDP. If the actual unemployment rate exceeds the natural rate of 1%, the gap in GDP of approximately 2.5%. This ratio (1:2.5) allows us to calculate the absolute loss associated with any level of unemployment.

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