20191028_093813.jpg - Long Run(LR Short Run SR"potential max sustainable actual differs from LP because Events Actions that affect max of events with a

20191028_093813.jpg - Long Run(LR Short Run SR"potential...

This preview shows page 1 out of 1 page.

Image of page 1

Unformatted text preview: Long - Run (LR ) Short- Run / SR ) - "potential " - max sustainable ( - " actual " - differs from LP because - Events + Actions that affect max of events with a temporary impact sustainable production cause aLR A -Changed by actions+ events with a Common - English term temporary (SR ) impact and by Economists: too strong those with permanent (ce ) impact problem Unemployment and GDP " Strong" economy ~ high GDP ~ low unemployment " weak " economy - low GDP ~ high unemployment LR+ SR Unemployment 3 causes of unemployment 1 . Normal Job Search - "Frictional " - LR all3 make 2. A's in Jabel Skills in workforce - " structural"- LR up 3. SR changes in economic conditions -"Cyclical"- SR uneng U= Frictional + Structural + Cyclical rate CR ( u ) LR...
View Full Document

  • Fall '08
  • Staff

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Ask Expert Tutors You can ask You can ask ( soon) You can ask (will expire )
Answers in as fast as 15 minutes