Enter aggregate supply - Why is there unemployment in equilibrium?

7 important questions on Enter aggregate supply - Why is there unemployment in equilibrium?

What is cyclical unemployment?

Unemployment due to business cycles

What does equilibirum unemployment reflect?

The institutional characteristics of the labour market and the economy at large

What is the formula for a Union indefference curve?

w=S'/L
  • Higher grades + faster learning
  • Never study anything twice
  • 100% sure, 100% understanding
Discover Study Smart

What i real wage rigidity?

A market imperfection that keeps the real wage from falling to the level that eliminates involuntary unemployment

What does the elasticity measure?

How much a variable response to changes of another one

What does the Beveridge curve measure?

The relationship between the vacancy rate and the unemployment rat

What is measured on the axis of the Beveridge curve?

x-axis: Unemployment
y-axis: Vacancies

The question on the page originate from the summary of the following study material:

  • A unique study and practice tool
  • Never study anything twice again
  • Get the grades you hope for
  • 100% sure, 100% understanding
Remember faster, study better. Scientifically proven.
Trustpilot Logo