ECON282 Lecture Notes - Lecture 10: Underemployment
30 Jan 2018
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Document Summary
Discouraged workers are those who have given up on looking for a job. Underemployment is when people are not employed at their skill level i. e. wants to work 40h/wk but can only do 16h/wk. Underemployment is when people are not employed at their skill level i. e. wants to work 40h/wk but can only do 16h/wk i. e. a surgeon who cannot find a job in a hospital so they work in mcdonalds. Unemployed are those who are not working and are not actively looking for a job. The goal is to connect savers and lender. A good financial system is one that is able to connect the 2 groups as quickly and efficiently as possible. A healthy financial systems indicate a high citizens having a high standard of living. 2 big player: financial intermediaries and financial markets. Failure of financial system in the long run have even worse effects. Cash banks have on hand are called reserves.
