Unemployment

Beschreibung

A2 economics Karteikarten am Unemployment, erstellt von jack.miers am 01/04/2014.
jack.miers
Karteikarten von jack.miers, aktualisiert more than 1 year ago
jack.miers
Erstellt von jack.miers vor mehr als 10 Jahre
41
1

Zusammenfassung der Ressource

Frage Antworten
Unemployment Def: Those who are willing and able to work, but unable to find a job.
Method of measuring unemployment: Labour force survey, 2.51million people approx.
Types of unemployment: - Seasonal - Frictional - Structural - Cyclical - Real wage - Technical
Seasonal unemployment: Tourism, farming, building- People unemployed when demand falls during seasons
Frictional unemployment: Between jobs- e.g new graduates looking for work or leaving one job to get another.
Structural unemployment: When whole industries collapse- e.g ship building industry in britain Etc.
Cyclical unemployment: the Ups and downs of the economic cycle...--> HENCE CYCLICAL
Real wage unemployment: Wage set above the equilibrium rate- e.g national minimum wage, or trade unions.
Technical unemployment: When people are replaced by machines in order to increase efficiency.
policies to reduce unemployment: --> The new deal was introduced in order to tackle frictional + structural unemployment. --> Increasing AD by lowering taxes and interest rates in order to tackle Cyclical unemployment. --> Increasing efficiency of job centres. --> Improve incentives for the unemployed to work ( lower income tax) --> encourage foreighn direct investment/ FDI in order to help tackle strucutural unemployment ( toyota investing in car industry)
Consequences of unemployment (BAD) -->gov has to pay out benefits --> tax revenue overall is reduced --> gov not reciving tax income or NI contributions --> economy not working to its full potential --> higher crime, more mental health problems --> reduces both consumer and business confidence --> increase in income inequality
consequences of unemployment: (GOOD) --> greater pool of resources to choose from --> lower inflation --> companies selling inferior goods, do well.
Zusammenfassung anzeigen Zusammenfassung ausblenden

ähnlicher Inhalt

Economic Growth
Maya Khangura
Macroeconomics year 1
Nkolika Ezepue
Chapter 16: The objectives and instruments of macroeconomic policy
callum_j.smith
Dictionary Macrostructure
Ash A
Economics - unit 1
Amardeep Kumar
Chapter 15: Introducing macroeconomics
callum_j.smith
Monopolistic Competition VS Oligopoly
Tammy Sim
Exchange rates
callum_j.smith
Using GoConqr to study Economics
Sarah Egan
Economics
Emily Fenton
Bowlby's Theory of Attachment
Jessica Phillips