CEC2 532 Lecture 6: ASS 2 BUS ECON KARIM.docx
17 Apr 2015
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Frictional unemployment: in this case people are unemployed because they voluntarily decided to quit their job by personal choice. Structural unemployment: in this case people lose their job against their will. The job skill that person provided has become obsolete and is no longer demanded by employers. Cyclical unemployment: in this case people lose their job due to a depression or recession of the economy. 262. 5: the cpi is a measure of cumulative inflation over time of goods and services bought by consumers. This statistic unfortunately isn"t super accurate due to changes in essential goods. Ae = $ 1,622,148: gdp = ae + v = $ 1,624,608 million in 2010, gdp > ae due to unsold goods, during the year inventories rose by $ 2,460 million. This rate is called the rate of gross fixed capital investment. The amount we spend on new machinery and equipment and construction.
