Glossary Category: Economics - Page 12 - 3auk

disequilibrium unemployment

Disequilibrium unemployment happens when the labor market is not balanced, meaning the number of people looking for work

Equilibrium unemployment is the level of unemployment that occurs when the labour market is balanced, meaning the number

Sustainable economic growth is the process of increasing a country’s wealth over the long term without harming the

Inclusive economic growth is a type of economic progress that is shared fairly among all members of society.

Economic growth policies are actions taken by a government to increase the speed of actual growth and expand

Automatic stabilisers are government fiscal systems that help balance the economy without requiring new laws or direct action

The output gap measures the difference between an economy’s actual production (Actual GDP) and its potential output (Potential

A negative output gap happens when a country’s actual economic production is lower than its potential output. This

A positive output gap happens when a country’s actual economic production is higher than its potential output. This

National output is the total value of all finished goods and services made within a country’s economy during