ECON 105 Chapter Notes - Chapter 8: Business Cycle, Interest Rate, Real Income

• School: Simon Fraser University
• Department: Economics
• Course: ECON 105
• Professor: Davecox

Document Summary

Goals of low unemployment and price stability usually conflict with each other. The unemployment rate full time or part time. In britain --7. 7% unemployment rate in early 2011 (5. 7% in 2008) A: employment = total number of people aged 15 and older currently employed, either, unemployment. Just because a person isn"t working doesn"t mean that they are considered unemployed. 5 million retired workers in canada who receive oas benefits, or 330 thousand disabled canadian workers who receive cpp benefits b/c they are unable to work. An individual aged 15 or older that Is available for work; and: does not currently have a paid job (i. e. , is not employed) 2: has been actively looking for a job during the past four weeks. Individuals on temporary layoffs and those waiting for a new job to start in the next four weeks or less are considered unemployed if they satisfy conditions 1 and 2.