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economics > macroeconomics aims & issues > Flashcards

macroeconomics aims & issues Flashcards

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explain structural unemployment and its factors

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why is avoidance of a large and persistent BOT surplus favourable?

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why is avoidance of a large and persistent BOT deficit favourable?

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why is deflation bad?

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  1. expectation of falling prices –> consumers delay purchases –> further fall in AD –> spiral
  2. savings worth less, increase real burden of debts
  3. nominal i/r cannot fall below zero –> reduce saver’s bank balances every month –> prompt withdrawal deposits –> spiral
  4. if i/r cannot fall far enough to boost demand and perk up prices, demand weakens further –> deflation trap
  5. increases rigidity in the labour market (workers resistant to wage cuts in cash terms, inflation lets firms cut wages by freezing pay in nominal terms)

economics (6 decks)

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