Inflation, deflation, employment and unemployment

HideShow resource information
  • Created by: hayley
  • Created 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

Other cards in this set

Card 2

Front

where aggregate demand exceeds aggregate supply leading to an increase in the level of prices

Back

Demand pull inflation

Card 3

Front

where increased costs of production results in firms increasing their prices leading to and increase in the general price level

Back

Preview of the back of card 3

Card 4

Front

where firms have to increase wages to attract the labour that they require

Back

Preview of the back of card 4

Card 5

Front

demand deficient unemployment that occurs as a result of the economic cycle

Back

Preview of the back of card 5
View more cards

Comments

No comments have yet been made

Similar Economics resources:

See all Economics resources »See all Unemployment resources »