Economic Fluctuations, Unemployment, and Inflation经济波动，失业，通货膨胀.pptVIP

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Economic Fluctuations, Unemployment, and Inflation经济波动，失业，通货膨胀.ppt

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Economic Fluctuations, Unemployment, and Inflation经济波动，失业，通货膨胀

Economic Fluctuations, Unemployment, and Inflation 1. Swings in the Economic Pendulum A Hypothetical Business Cycle The phases of the business cycle are: 2. Economic Fluctuations and the Labor Market Economic Fluctuations and the Labor Market The noninstitutional civilian adult population is grouped into two broad categories: 3. Three Types of Unemployment Three Types of Unemployment Frictional Unemployment: 4. Employment Fluctuations -- The Historical Record The Concept of Full Employment Full Employment: The level of employment that results when the rate of unemployment is normal, considering both frictional and structural factors. The natural rate of unemployment is neither a temporary high nor a temporary low; it is a rate that is both achievable and sustainable into the future. It is the rate of unemployment accompanying the economy’s maximum sustainable rate of output.” 5. Unemployment and Measurement Problems Unemployment and Measurement Problems The definition of unemployed involves some subjectivity. Questions for Thought: 6. Actual and Potential GDP Actual and Potential GDP Potential output : Maximum sustainable output level consistent with the economy’s resource base, given its institutional arrangements. 7. Effects of Inflation: -- An Overview Effects of Inflation: -- An Overview The Rate of Inflation is calculated as: Effects of Inflation: -- An Overview Anticipated and Unanticipated Inflation: Effects of Inflation: -- An Overview There are harmful effects of high and variable rates of inflation. What Causes Inflation? Nearly all economists believe that rapid expansion in the supply of money is the cause of inflation. Questions for Thought: EndChapter 8 Jump to first page Copyright (c) 2000 by Harcourt Inc. All rights reserved. Copyright (c) 2000 by Harcourt Inc. All rights reserved. Next page Slides to Accompany “Economics: Public and Private Cho