Tag: unemployment

Phillips curve

Original

The business cycle (also called the trade cycle) refers to the natural ups and downs of an economy

Policies to reduce unemployment are actions taken by the government to lower the number of people without jobs,

Labour mobility is the ease with which workers can change their jobs, industries, or locations to find new

The natural rate of unemployment (NRU) is the unemployment rate that exists in an economy when it is

Involuntary unemployment occurs when people are willing and able to work at the current wage, but they cannot

Voluntary unemployment occurs when individuals decide not to accept jobs even though they are available at the current

Hysteresis describes a situation where high unemployment remains high for a long time and becomes difficult to fix,

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