Exercises
Business Cycle, Unemployment and Inflation
Business Cycle, Unemployment and Inflation
Many first-year university students quit their studies and choose to work instead because they find themselves not suitable to study. Explain why the unemployment rate may increase or decrease.
Skills required: understand the background information and analyze the situation combined with economic concepts and math techniques
Under what condition will unemployment rate decrease despite the number of unemployed people increases.
Skills required: remember the important formula and analyze its meaning combined with economic concepts and advanced math techniques