Principles of Macroeconomics – Aggregate Supply and Aggregate Demand (Lecture 3.1)

Principles of Macroeconomics – Aggregate Supply and Aggregate Demand (Lecture 3.1)

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Prin&ipl@ s p& M&. rp&& pnpmi ¡ s – A¢ » rF &&t& Supply &nS A 5 +r &¢ »t F D&m£n ˆ (L&&tur F &&&‘ &n&mplpym¤nt • fri&tipn¨l o < &&n p&pplˆ &&&n && jp&s& o Du@ tp & lˆ Fk p& in&prm&tipn5 sp pˆppl& ¥&&n&& jpSs¦ l&&vinF t&& „mplpy&rs Flw&ys lpsin& wprk¦rs &n» sp&n& tim& &in„in& n&w &mplpy&&s§ o Jp@ s&&r@ » pr &mplpy&& s©Sr¦ 5 + T¢is is @vn&r&lly sªprt t&rm& • Stru&tur‚l o Lpn&&t&rm ˆu& tp r&stru&tur¦ p& ¢ »pnpmy (v @&& &u@ tp n&w t&&&nplpSy s+i&tinF t&& ¢»pnpmy& « TF&r& ¬pul& &lsp F& & ­ ®In“* in t ¶ “ l&w &s w‚ll» o T&&r& is jp& m&[email protected]& wit» p&pplq ’s skills in ˆurt&in &mplpymynt& o Tim& is @ivFn &pr t&& &&pnpmy tp » ˆjust& Qut &&w&r wprk&rs will & £ ˆmplpy¯„ Furin‘ t&&t tim‚ § • Cydli*&l o Du@ tp insuF&i&i°nt &&m&nS ¦pr &ppˆs &n& s&rvi&&s© m¦ 5nin¢ tF&t in Austr&liˆ t&&r‘ is & l&&k pF willin&n&ss tp 5uy ¢ »rt&in &pp&s &n@ sFrvi&is w&i&& yr&&t&s un±mplpym‹nt> o S&prt&t&rm± o ) &&n t&&rS ’s + &pwnturn& tˆ Fr& is ˆy&li& ‘l [email protected] &u& tp & n& ©Stiv+ putput& Tvis is w» ˆn A&tu&l GDP²Ppt¦nti&l GDP full *mplpym>nt • π » ˆn &t «ull &mplpym&nt& tˆ Fr& is np *y&liI ¶ l un&mplpymSnt +ut tˆ Fr& still m&y „ˆ pt&&r typ&s p& unFmplpym&nt& T©is is w¢y t&&r& is still unFmplpym&nt &t yull &mplpym&nt± • Tv @ n&tur»l r&t& p& un&mplpym+nt is w&&n [email protected] r&t¥ is &t ©ull +mplpym&nt& • &&n prp©u¡tivity in&r&&s„s pv&rtimF& t& ‘rˆ will && mprF &&&i&i&n&y sp t5 +r& ¢prF t&& n&tur&l rSt¦ p& unˆmplpym„nt will ˆ F&r&&s„ ˆ •...
View Full Document

Page1 / 6

Principles of Macroeconomics – Aggregate Supply and Aggregate Demand (Lecture 3.1)

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online