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Unemployment - 1,636 words
... ured goods grows and remains high, employment in the secondary sector remains high as well. There is also a third, or tertiary sector of employment comprising such activities as the service trades, teaching, administration, scientific research, medical care, art, and tourism, as well as other pursuits that are not carried on in factories. Technical progress in those areas is slight, compared to that in the primary and secondary sectors, and so the activities in the tertiary sector require a large number of people. In countries with high living standards, the demand for products of the tertiary sector keeps increasing; thus employment in that sector increases more rapidly than in the othe ...
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Macroeconomics - 771 words
ECO 261 NOTES 1. The most common measure of the total output of the economy is the GDP ( Gross Domestic Product). This is the total value of goods and services produced in an economy in a given year. This differs from GNP (Gross National Product) because GNP includes GDP plus income earned abroad. Real GDP is adjusts for changes in prices while nominal GDP is just a basic idea that measures current prices to establish GDP. Real GDP is the preferred method of production because it gives a more accurate account of changes in prices and real output . The groups that purchase GDP include: - consumption expenditures: purchases by consumers - private investment expenditures: purchases by firms - g ...
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Unemployment - 1,278 words
Unemployment, ever think about what happens to people when they loose their job? Where do they go? What do they do? How do they provide for their family? These are everyday facts about unemployment, one of the largest measuring sticks for an economy. Before you can answer any of these questions. We must determine what causes or influences unemployment? Government is the cause of unemployment. Government has a great deal of influence on unemployment. For instance, government increases minimum wage rates, which price out potential employees. Regulations that government issues affects unemployment. These regulations places high cost onto business that decrease their profits, which in return dec ...
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Job - 566 words
Unemployment has always been a problem in our society. The current unemployment rate in Ontario is approximately six percent. This percentage does not usually fluctuate very much, unless there is some dramatic incident that affects the whole economy, like inflation for example. There are numerous causes of unemployment that economists around the world have came up with. However, I will describe the most important ones that are relevant to Canada. The biggest reason for unemployment, not just Canada, but also worldwide, is frictional unemployment. Many people are always to be found in the process of moving from one job to another in order to improve their salary. And frictional unemployment i ...
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Unemployment - 656 words
In compiling unemployment statistics for the United States and other developed countries an unemployed person is defined as anyone who is capable of working and is actively seeking work but is unable to find a job.1Before a person can be unemployed in this sense he must be an active member of the labor force in search of a job. Students and Homemakers perform work, but they are not considered employed unless they are paid; however, they are not considered unemployed unless they are actively seeking gainful jobs. In societies in which a majority of the citizens are able to earn a living by working for others, being unable to locate and obtain a job is a very serious problem. Unemployment is w ...
Free research essays on topics related to: frictional unemployment, structural unemployment, unemployment, unemployment rate, armed forces
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