Inflation, deflation, employment and unemployment 0.0 / 5 ? EconomicsUnemploymentASAQA Created by: hayleyCreated on: 29-03-13 18:52 Participation rates proportion of the country's population that makes up the country's labour force 1 of 10 Demand pull inflation where aggregate demand exceeds aggregate supply leading to an increase in the level of prices 2 of 10 Cost push inflation where increased costs of production results in firms increasing their prices leading to and increase in the general price level 3 of 10 Tight labour market where firms have to increase wages to attract the labour that they require 4 of 10 Cyclical unemployment demand deficient unemployment that occurs as a result of the economic cycle 5 of 10 Demand deficient unemployment insufficient aggregate demand in the economy to employ the available labour 6 of 10 Frictional/search unemployment people between jobs 7 of 10 structural unemployment unemployment caused by a change in the demand side or supply side of the economy 8 of 10 voluntary unemployment workers who are not prepared to take a job at current wage levels 9 of 10 discouraged workers workers who leave the labour market because despite numerous attempts they are unable to find a job 10 of 10
Government economic policy objectives and indicators of national economic performances DEFINITIONS 0.0 / 5
OCR AS Economics: F582: Macro: The National and International Economy Part 2 4.5 / 5 based on 4 ratings
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