Principles of Macroeconomics

The aggregate supply curve represents the entire quantity of goods and services that companies produce and

The aggregate demand curve represents the quantity of all goods and services demanded in the economy

Deflation means a general decrease in the level of prices for goods and services. Alternatively, another

Ten dollars today does not buy as much as it did 30 years ago. The cost

Unemployment is the macroeconomic obstacle that affects people badly. For most workers, the loss of a

Cyclical unemployment refers to the Unemployment caused by regular fluctuations in the economy correlated with the

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

Unemployment, when the number of jobs available in the economy is not enough to provide a

Unemployment that results because it takes time for workers to find the jobs that best suit

The economy’s natural rate of unemployment refers to the rate of unemployment that the economy normally