The unemployment [blank_start]rate[blank_end] is the [blank_start]percentage[blank_end] of Australians who are above the age of [blank_start]15[blank_end], and are able and [blank_start]willing[blank_end] to begin working but are not.
Select the yearly Australian unemployment target rate.
Choose the best reason as to why the target unemployment rate is not 0%
Because they don't feel like it
Because 0% unemployment limits economic growth
Because some people like not working and we should respect that
[blank_start]Cyclical[blank_end] unemployment occurs during [blank_start]downturns[blank_end] of the business cycle, when workers lose their employment positions because of these [blank_start]losses[blank_end]. An example of this would be when waiters or steel workers get [blank_start]fired[blank_end] due to a [blank_start]recession[blank_end] in sales.
Underemployment occurs when someone gets demoted.
Choose the best reason as to why the underemployment rate might be higher than the unemployment rate at any one point in time.
People like working to be busy and it gives them a sense of purpose
People need to earn money to survive, so will be employed regardless of whether their job is using their skills the best
It sounds better to say that you have a job, rather than being unemployed until you find a job that best uses your skills
What is the best reason that could explain the yOuTH uNEmPLoYmEnT cRiSiS (there's two answers)
young people cbb to contribute to society in a positive way bc these damn millennials are so entitled
we're all just lazy
many entry-level jobs have been automated and replaced the need for inexperienced people to complete them
why work wHeN nEtfLIX eXisTs
which of these is not a form of unemployment
what are the three basic economic questions
who buys the things
what is the thing
how do we make the things
why do we make the things
how much is the thing going to cost
a list of the economic systems, in order of where the government has the most control - least control: [blank_start]planned socialist[blank_end], planned capitalist, [blank_start]market socialist[blank_end], [blank_start]market capitalist[blank_end], [blank_start]subsistence[blank_end]
planned capitalist has the most government intervention of all the economic systems
choose the best reasons as to why economists measure GDP
because they're bored and it sounds cool
because they want to monitor the growth output of an economy over a period of time
economists measure GDP because it is a good indicator of how a government is controlling their economy
the annual Australian GDP target is [blank_start]2-3[blank_end]%
identify two limitations to using GDP as a measure of economic progress in australia
debts don't count toward GDP
feeeeeeellliiiinnnggsssss don't count
there are better, more inclusive ways to measure economic progress instead of GDP
[blank_start]Inflation[blank_end] is the rate at which the [blank_start]general[blank_end] level of prices for goods and services increases. It is the sustained increase in price level
gross domestic product
The target inflation rate in australia is 2-3% yearly
CPI stands for [blank_start]Consumer Price Index[blank_end], and measures the general rate at which prices increase. DFD stands for [blank_start]Domestic Final Demand[blank_end] and measures the same as CPI, however more specific to [blank_start]governments[blank_end] and businesses. CPI is specific to [blank_start]household[blank_end] expenditure.