state the both -cyclical and classical
State the both -Cyclical and Classical unemployment
Cyclical unemployment
Unemployment because of a recession.
Classical unemployment
Unemployment because of real wages being too high (for instance through minimum wage laws).
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explain the term- inventory investmentwe would have a negative inventory investment whenever inventories decrease by net investments we mean gross
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what is frictional unemployment individuals who are temporarily unemployed when transiting between jobs or just entering labour market this kind is
describe the structural unemploymentindividuals who are unemployed as their skills are no longer in demand where they live this kind mainly results
state the both -cyclical and classical unemploymentcyclical unemploymentunemployment because of a recessionclassical unemploymentunemployment because
how unemployement increases by firm relocating productionif unemployment increases in a specific city because of a firm relocating production its
determine the term- nominal wagesthe nominal wage is wage per unit of time in currency used in the country- what we mainly just call wage when we
define the term- wages and income remember that by wage we mainly mean what you receive for working one hour whereas income is the total revenue from
state in brief the nominal wage level in macroeconomics we are generally not interested in the wage for a specific individual though in the average
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