PPT-Short Run Trade Off Between Inflation and Unemployment

Orange Group This is chapter 35 The natural rate of unemployment depends on various features of the labor market Examples include minimumwage laws the market power of unions the role of efficiency wages and the effectiveness of job search. Track your software investments and understand how your Embarcadero software is being used With the Embarcadero License Center ELC you can have centralized and simplified control over license administration It is one more way Embarcadero Technologie AS - AD. Aggregate Supply. relates output and price level. labor market. Aggregate Demand. relates output and price . level. IS - LM. Aggregate Supply. As output rises….. P = W(1 + . m. ). W = . P. What are the . 4 types . of unemployment?. How are unemployment rates determined?. What is full . employment a. . underemployment?. . What. is a . discouraged worker?. "It's a recession when . your neighbor . Swings in the. Economic Pendulum . Instability in the . Growth . of Real . GDP: 1960-2013. Although real GDP in the . United States has . grown at an average rate of approximately 3%, the growth has been characterized by economic ups-and-downs. . www.lancaster.ac.uk/postgrad/murphys4/. s.murphy5@lancaster.ac.uk. office: LUMS . C85. Some notes for the last section of ECON 100. You’ve had some experience with David Peele’s questions – on Exam 4. Swings in the. Economic Pendulum . Instability in the . Growth . of Real . GDP: 1960-2015. Although real GDP in the . United States has . grown at an average rate of approximately 3%, the growth has been characterized by economic ups-and-downs. Indicators. Economic Disasters. Supply-side Economics vs. Keynesianism. Vocabulary. Wednesday. GDP/GNP. Business . Cycles. Expansion. Peak. Recession. Trough. THURSDAY. Unemployment. Frictional. Structural. Chapter 21. McGraw-Hill/Irwin. Copyright © . 2015 . by . McGraw-Hill Education (Asia). . All rights reserved.. Learning Objectives. Identify the four phases of the business cycle and explain the primary characteristics of recessions and expansions. &. Fluctuations. Section I. Business Cycles & Fluctuations. Business cycles . are largely systematic ups and downs of real GDP. Business fluctuations . is the rise and fall of real GDP over time in a nonsystematic manner.. Vocab. Inflation. Deflation. Price index. Consumer price index. Market basket. Base year. Creeping inflation. Hyperinflation. Stagflation. Demand-pull inflation. Cost-push inflation. Civilian labor force. relates output and price level. labor market. Aggregate Demand. relates output and price . level. IS - LM. Aggregate Supply. As output rises….. P = W(1 . m. ). W = . P. e. F. (. u,z. ). P = . P. Chapter 13. © Dünhaupt, Dullien, Goodwin, Harris, Nelson, Roach, . Torras. Learning goals. After . today‘s. . lecture. , . you. . will . be. . able. . to. :. Explain . the derivation of the Aggregate Demand curve relating inflation and output levels, and how it shifts.. 8. C H A P T E R. ECONOMIC GROWTH. An . increase in real GDP. over some time period. An . increase in real GDP per capita. over some time period. Growth as a Goal. Arithmetic of Growth. Rule of 70. Money and Inflation. Rise in money supply does not equal a rise in Real GDP in the long run, since price level rises as well by the same percentage. Classical Model of Price Level . – Since money supply and price level rise together, the Real Quantity of Money (M/P) stays at the original level.