The Non-Accelerating Inflation Rate of Unemployment (HSC SSCE Economics): Flashcards
📚Flashcards
Practise the cards
10 cards from this deck
ShowHide
Practise the cards
10 cards from this deck
NAIRU stands for
NAIRU stands for
Non-Accelerating Inflation Rate of Unemployment
NAIRU definition
NAIRU definition
Lowest unemployment without accelerating inflation
Unemployment type absent from NAIRU
Unemployment type absent from NAIRU
Cyclical unemployment
Four unemployment types in NAIRU
Four unemployment types in NAIRU
Frictional, seasonal, structural, hard-core
Unemployment above NAIRU indicates
Unemployment above NAIRU indicates
Spare capacity in labour market
Effect when unemployment below NAIRU
Effect when unemployment below NAIRU
Wage pressures and accelerating inflation
Policies to lower NAIRU
Policies to lower NAIRU
Retraining, mobility, accessibility, education reforms
Phillips Curve illustrates
Phillips Curve illustrates
Trade-off between unemployment and inflation
Australia's 2023-24 NAIRU estimate
Australia's 2023-24 NAIRU estimate
4.25%
What NAIRU equals in employment terms
What NAIRU equals in employment terms
Full employment