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Macroeconomics: Summary There are four main macroeconomic areas: Unemployment Inflation International Trade Economic Growth Unemployment We considered: (1) Definition (2) Types (3) Keynesian perspective (3) Costs Definition of Unemployment This will vary depending on what is included with regard: The number of people identified as being unemployed. The number of people identified as being part of the working population/labour force. Types of Unemployment There are several types of unemployment: Involuntary Voluntary Frictional Seasonal Structural Regional Keynesian Unemployment Demand Deficient Unemployment: Aggregate demand (AD = C + I + G + X] is deficient because it is lower than full employment aggregate demand.
Approximate Word count = 449
Approximate Pages = 1.8
(250 words per page double spaced)
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