Economic Performance (AQA A-Level Economics): Flashcards
📚Flashcards
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Practise the cards
10 cards from this deck
UK's main unemployment measure
UK's main unemployment measure
Labour Force Survey (LFS)
Full employment meaning
Full employment meaning
Everyone wanting work at prevailing wage can find employment
Involuntary unemployment
Involuntary unemployment
Workers willing to work at current wage but can't find jobs
Frictional unemployment
Frictional unemployment
Short-term 'between jobs' unemployment
Structural unemployment
Structural unemployment
Long-term unemployment from declining industries
Cyclical unemployment alternative names
Cyclical unemployment alternative names
Keynesian unemployment or demand-deficient unemployment
Natural rate of unemployment (NRU)
Natural rate of unemployment (NRU)
Frictional + structural unemployment at equilibrium
Real wages
Real wages
Purchasing power of nominal/money wage
Four main types of unemployment
Four main types of unemployment
Frictional, structural, cyclical, seasonal
Unemployment type addressed by demand-side policies
Unemployment type addressed by demand-side policies
Cyclical unemployment