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Chapter 24 & 25 Notes

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ECON 2030
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TODAYS MENUMonday 30 June 2014IBUSINESSAPractice Problems1Chapter 24810 13152Chapter 251 2 4 8 12 1517 1921IISUBSTANCEAUnemployment The Basics1 True problem of unemploymentIs the unemployment rate that is calculated each month a good reflection of the problem And if not is there a better measure There are different measures We have to sort out which ones are the best measures to use Micro level life is really hard The problem of unemployment is wasted resources If unemployment rates are really high goods and services not produced are lost opportunities The capital stock the ability to produce goods and services declines Discouraged worker person who is unemployed available for work but has not made a specific effort in the past 4 weeks to find employment because they see nothing available for them In that case the official unemployment rate goes down Total employed part time for economic reasons available for work looking want to have a full time job but just working part time because there is nothing bet
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