Economics unit 2 3.0 / 5 based on 4 ratings ? EconomicsASAQA Created by: LadeanCreated on: 12-04-13 17:45 Does a change in price cause a shift or extension/contraction Extension/contraction 1 of 11 What is structural unemployment? Technological advances take over and lack of appropriate skills 2 of 11 What is frictional unemployment? When workers are waiting on a certain wage and job 3 of 11 What is cyclical unemployment? Lack of AD 4 of 11 How would you improve cyclical unemployment? Monetory and fiscal policies to increase AD 5 of 11 How would you improve structural unemployment? Supply side policies 6 of 11 How would you improve frictional unemployment? Provide more job information and lower benefits 7 of 11 What are the problems with policies to improve structural unemployment? Cost to taxpayer and time lags 8 of 11 What are the problems with policies to improve frictional unemployment? Ethical issues 9 of 11 What are the problems with policies to improve cyclical unemployment? Inflation,BOP, deficit 10 of 11 What 2 things are a deficit caused by? A rise in imports and slow exports 11 of 11
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