What is frictional unemployment? Why is it not regarded as a serious economic problem?
Answer to relevant QuestionsWho are discouraged workers? Underemployed workers? Are they counted as part of the labor force? As part of the unemployed? How does the BLS determine who is unemployed? Why is the balanced budget multiplier always equal to 1? Calculate both the tax revenue required to gen erate the surplus budget shown and the change in national income that will result in each of the three cases in the following table. In 2010, the economy's resource base consists of 10 laborers and a capital stock of $50. Its capital output ratio is 2. In 2011, its capital stock increases to $75, while the number of laborers and capital output ratio ...What is meant by the fractional reserve system? Why is it fundamental to modern banking?
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