Causes of inflation (D/B p230-232)
The cure will depend on the cause:
https://thecuriouseconomist.com/cost-push-inflation-is-driving-up-prices-throughout-the-indian-economy/
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Complete the following worksheet... https://docs.google.com/a/aisbudapest.org/document/d/1544_KywLL2LgUR_o-bOapHS90E9qjEKSXFVTt3L26ac/edit?usp=sharing You will receive another handout with worked examples of creating a simple weighted price index with practice tasks. It is very important that you complete and understand these tasks as you will have a test on this soon... this is the type of question you may get in your Paper 3 exam.
Governments throughout the world are faced with the problem of unemployment. Consider the following newspaper headlines:
For each headline: a) Explain how the strategy may affect unemployment, including what type of unemployment will be influenced. b) Examine the effect of each strategy on the level of government spending (in some cases there will be no effect). Conclusions: What specific measures can be used to target the four types of unemployment? How could these policies conflict with the governments other macroeconomic goals? IB Essay practice a) Explain the various costs of unemployment. b) Evaluate the various policies aimed at reducing unemployment. Types and causes of unemployment
Work to complete: Frictional and seasonal unemployment are fairly short term forms of unemployment. Distinguish between the two and explain the causes of each. Structural unemployment is of greater concern than frictional and seasonal unemployment
The sum of frictional, seasonal and structural unemployment is the “natural rate of unemployment”, i.e. the inevitable level of unemployment which exists at YFE (the full employment level of output or potential output)… there will always be labour market imperfections, e.g. lack of information (imperfect knowledge) or labour market rigidities. Any unemployment which exists beyond this natural rate of unemployment has been caused by the business cycle, e.g. the economy is experiencing a recessionary gap (not at long-run equilibrium) a. Describe cyclical unemployment. b. Use diagrams to explain what causes cyclical unemployment. Unemployment haikus (cross-curricular links) - see if you can match each to a specific type of unemployment http://e-conomics.weebly.com/hl-economics/unemployment-haikus The meaning of unemployment
https://www.visualcapitalist.com/charts-historic-u-s-job-losses-perspective/ ...COVID PRESENTING: The Truth About Unemployment In America http://www.businessinsider.com/truth-about-unemployment-2011-11#-1
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