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Unemployment

Unemployment. Exam style question. ‘Unemployment is best tackled through demand side intervention.’ Discuss (25 marks). Why consider unemployment as an economic objective?. Costs to the unemployed and their dependants Costs to local communities Costs to taxpayers

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Unemployment

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  1. Unemployment

  2. Exam style question • ‘Unemployment is best tackled through demand side intervention.’ Discuss (25 marks)

  3. Why consider unemployment as an economic objective? • Costs to the unemployed and their dependants • Costs to local communities • Costs to taxpayers • Costs to the economy as a whole • Altruism

  4. Increases and decreases in the components of aggregate demand that create fluctuations in the economic cycle. AD = C+I+G+(X-M) Known as cyclical or demand deficient unemployment. Demand side causes of unemployment Price level LRAS AD1 AD2 Real output

  5. Demand deficient unemployment • http://www.bbc.co.uk/news/business-21292150

  6. Supply side causes of unemployment

  7. Youth unemployment • http://www.bbc.co.uk/news/business-18085174

  8. Tackling supply side causes of inflation • http://www.bbc.co.uk/news/uk-wales-17600117

  9. Tackling unemployment • https://www.youtube.com/watch?v=YYuW2S6Jnxo

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