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Explain how unemployment could be voluntary or involuntary .
Start off with a definition of the labour force and then outline the proportion of the labour force which would be unemployed even when the labour market is in equilibrium - this having of frictional, seasonal and structural unemployment. Classical/monetarist theory looks at any unemployment in excess of the natural rate of unemployment as voluntary - as these labourers are not accepting jobs at the going real wage rate. Keynesians, on the other hand, sight this as involuntary, or demand deficient.
in the keynesian model the price is assumed to be what? a.exogeneous and remaaining constant b. endogeneous and remaining constant which is correct?
Financial relationship with the IMF: IMF provides temporary assistance to member countries to tide over BOP deficits. When a country requires foreign exchange, its tenders its
Explain the term Fordism Between approximately 1890 and 1930-or perhaps 1890 and 1950-a host of innovative technologies and business practices were adopted in the US. Europeans
What would be a factor that would make the prospects hopeful for overcoming the demand for resources in the future
Q. Central Planning of economic system? Central Planning: An economic system in that crucial decisions regarding consumption, investment, exchange rates, interest rates and pri
The goal of sustainability requires that we address what three questions? The goal of sustainability needs that we address whether economic activities are financially sustainab
Q. Explain the Post-Keynesian Economics? Post-Keynesian Economics: A modern heterodox school of economic thought that emphasizes more radical or non-neoclassical aspects of Joh
critical evaluation of marginal analysis
Discount Rate The term discount rate relates to business valuations. It is the rate applied to a future torrent of making an income or cash flow to measure its represen
There are six potential customers of computer games, each willing to buy only one game Consumer 1 is willing to pay $40, Consumer 2 is willing to pay $35, consumer 3 is willing to
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