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(week 1 and 2, week 3, essay preperation, week 4, week 5, week 7), week 6 …
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week 3
unemployment
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formular to calculate it
dividing the number of unemployed people by the total number in the labor force, then multiplying by 100.
types of unemployment
cyclical
Cyclical unemployment is a type of unemployment which is related to the cyclical trends in the industry or the business cycle
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hard core
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mentally ill, disabled or unemployable
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structural
unemployment resulting from industrial reorganization, typically due to technological change, rather than fluctuations in supply or demand
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week 5
economic growth
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inflation
what is it
general rise in price level relative to available goods resulting in a substantial and continuing drop in purchasing power in an economy over a period of time
what causes it
consumer price index measures changes in the price level of a weighted average market basket of consumer goods and services purchased by households
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