Prin of Econ Macroeconomics

Principles of Economics

28 Canadian Inﬂation, Unemployment, and Business Cycle After studying this chapter you will be able to  Explain how demand-pull and cost-push forces bring cycles in inflation and output  Explain the short-run and long-run tradeoff between inflation and unemployment  Explain how the mainstream business cycle theory and real business cycle theory acc

ECON | 1010 | Prin of Econ Macroeconomics | lecture notes | 28 Canadian Inﬂation  Unemploy

© 2010 Pearson Education Canada Information Constraints A firm never possesses complete information about either the present or the future. It is constrained by limited information about the quality and effort of its work force, current and future buying plans of its customers, and the plans of its competitors. The cost of coping with limited informatio

ECON | 1000 | Principles of Economics | lecture notes | © 2010 Pearson Education Canad

Parkin/Bade, Economics: Canada in the Global Environment, 8e 9) The determination of prices in individual markets is primarily a concern of A) positive economics. B) negative economics. C) macroeconomics. D) microeconomics. E) descriptive economics. Answer: D Diff: 2 Type: MC Topic: Definition of Economics 10) Which one of the following topics does m

ECON | 1000 | Principles of Economics | study guides | Parkin/Bade  Economics: Canada

21 Monitoring Jobs and Inﬂation After studying this chapter you will be able to  Explain why unemployment is a problem and define the unemployment rate and other labour market indicators  Explain why unemployment is present even at full employment, and how its rate fluctuates over a business cycle  Explain why inflation is a problem and how we measure it us

ECON | 1010 | Prin of Econ Macroeconomics | lecture notes | 21 Monitoring Jobs and Inﬂatio

Use the figure below to answer the following question(s). The following figure shows the aggregate demand ( AD ), short - run aggregate supply ( SAS ), and long - run aggregate supply ( LAS ) curves for Econoworld. Figure 22.3 21) Refer to Figure 22.3. In Econoworld, there is a difference between the ________ real GDP and potential GDP of $________ billion per y

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