ECON 203 Study Guide - Final Guide: Phillips Curve, Tl;Dr, Autarky
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26 Mar 2016
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ECON 203 Full Course Notes
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Chapter 9 unemployment: labour force the total amount of workers, including both the employed and the unemployed. Labour force = # of employed people + # of unemployed people: unemployment rate the percentage of the labour force that is unemployed. Unemployment rate = (# of employed people / labour force) * 100: labour-force participation rate the % of the adult population that is in the labour force. Labour-force unemployment rate = (labour force / adult population) * 100. 100 = employment rate + unemployment rate = 92. 9% + 7. 1% currently as many people are entering and leaving the labour force. There are also individuals who aren"t looking for jobs/do not try hard. 5 causes of unemployment: minimum wage laws raising minimum wages increases unemployment (see graph) Money multiplier = 1 / reserve ratio: note see table example from my notes what an initial new deposit in a bank goes through, note , bank of canada monetary policies:
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