Macroeconomics: Canada in the Global Environment |
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The variable that we are interested in — the Canadian unemployment rate (the
percentage of the labour force unemployed) — is measured on the y-axis. The
time-series graph conveys an enormous amount of information quickly and easily
: 1 ...
The variable that we are interested in — the Canadian unemployment rate (the
percentage of the labour force unemployed) — is measured on the y-axis. The
time-series graph conveys an enormous amount of information quickly and easily
: 1 ...
˹éÒ 604
Arthur Okun, a well-known U.S. economist, estimated that for every 1 percentage
point rise in the unemployment rate, a nation's output of goods and services falls
by 3 percentage points. One percent of aggregate output in Canada in 1993 ...
Arthur Okun, a well-known U.S. economist, estimated that for every 1 percentage
point rise in the unemployment rate, a nation's output of goods and services falls
by 3 percentage points. One percent of aggregate output in Canada in 1993 ...
˹éÒ 875
At first, this decrease in inflation is unanticipated, so wages continue to rise at
their original rate, shifting the short-run aggregate supply curve leftward at the
same pace as before. Real GDP falls and unemployment increases. In Fig. 31.9,
the ...
At first, this decrease in inflation is unanticipated, so wages continue to rise at
their original rate, shifting the short-run aggregate supply curve leftward at the
same pace as before. Real GDP falls and unemployment increases. In Fig. 31.9,
the ...
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Introduction | 1 |
What Is Economics? | 5 |
Making and Using Graphs | 27 |
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aggre aggregate demand curve aggregate expenditure curve aggregate planned expenditure aggregate supply curve amount autonomous expenditure Bank of Canada billion hours billions of 1986 business cycle capital cars Chapter consumption expenditure consumption function curve for real decrease deficit deposits disposable income dollars equilibrium expenditure example expected exports factors factors of production falls Figure firms fiscal policy fluctuations GDP deflator government purchases graph growth households inflation rate investment demand curve long-run aggregate supply macroeconomic marginal propensity ment million tapes monetary policy money supply money wage rate multiplier open market operation opportunity cost output percent Phillips curve price level production possibility frontier quantity demanded quantity of labour quantity of money quantity of real quantity supplied Real GDP billions real GDP increases real interest rate real wage rate recession relationship rises short-run aggregate supply slope tapes a week taxes tion trade transfer payments unemployment rate