Difference between frictional-structural-cyclical
Elucidate the differences among the frictional, structural, and cyclical forms of unemployment.
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Frictional unemployment refers to the unemployment they exist when economy is at full employment level. It is also called NAIRU. It results from a institutional structure of the labour market and its social habits that impact on the behaviour of workers and firms.
Cyclical unemployment is the unemployment in excess of frictional unemployment and occurs when the economy is at below full employment level. It is caused when the economy is undergoing cyclical changes as part of the business cycle
Structural unemployment results from rigidities in the structure of an economy’s labour market and institutions. This is typically manifested in a mismatch of the requirements in labour market and the available skill set.
Economists agree that inflation beyond a moderate rate is undesirable as it can often prove disastrous and therefore, it must be kept under control. Economists agree also that an appropriate mix of fiscal and monetary policies can be helpful in controlling inflation.
Does a surplus of AD over AS always entail a condition of inflationary gap? Answer: No. Inflationary gap takes place only if AD > AS equivalent to full employmen
How Bank rates control the credit? Answer: Bank rate is the rate of interest at which the Central bank lends to Commercial banks. By increasing the bank rate centra
Define fiscal policy? Answer: Fiscal policy is the revenue and expenditure policy of government with a view to combat the state of inflationary or deflationary gap
Describe whether the sale of old scooter is comprised in national income?
Why the borrowings by Government are taken as capital receipts?
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Meaning of Cash Reserve Ratio (CRR): It is the percentage of net or total deposits of commercial bank that are maintained by RBI.
Differentiate between APC and MPC. The value of which of them can be greater than another and when? Answer: APC is the average
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