What is the correct answer for the wrong answer in the previous question?
Maintaining full employment
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What is a trade deficit?
Imports exceed exports
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What are the 3 policies the government use?
Fiscal, Monetary, Supply-Side
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What are the 3 things to do to reduce unemployment?
Budget surplus, raise interest rates, policies to increase output
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What causes structural unemployment?
Long term unemployment, industry declining.
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What is the unemployment called when capital takes over labour?
Technological
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What is the wage price spiral?
As prices rise, workers and trade unions push for higher wages pushing costs up and leading to further inflation
8 of 9
What are the following costs of; menu costs, unemployment, shoe leather costs, labour market problems, income redistribution probles, balance of payments problems, danger of hyperinflation.
Inflation
9 of 9
Other cards in this set
Card 2
Front
What is the correct answer for the wrong answer in the previous question?
Back
Maintaining full employment
Card 3
Front
What is a trade deficit?
Back
Card 4
Front
What are the 3 policies the government use?
Back
Card 5
Front
What are the 3 things to do to reduce unemployment?
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