Cyclical Unemployment

Cyclical Unemployment

Cyclical unemployment refers to the Unemployment caused by regular fluctuations in the economy correlated with the short-run ups

Seasonal Unemployment

Seasonal unemployment

Seasonal unemployment happens when workers are unemployed at certain times of the year when demand for labour is

THE GDP DEFLATOR

THE GDP DEFLATOR

The GDP deflator, also described the implicit price deflator for GDP, is defined as the ratio of nominal

Real vs Nominal GDP

Real vs Nominal GDP

Nominal GDP uses current prices to place a value on the economy’s production of goods and services. Real

The Components of GDP

The Components of GDP

In this chapter we will study 4 different components of GDP. Components of GDP are… Consumption Investment Government