Three types of unemployment
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unemployment rate formula
(labor force -- employed)/labor force x 100.
CPI formula
Base cost/CPI X 100
3types of unemployment
Cyclical (business cycle), frictional (stuck between jobs), structural (advancement)
What are the 3 Multiplers
Tax, Government or Consumer Spending, Balanced Budget
Calculate GDP
GDP=Y=AE
labor force participation rate
Labor force/total population
What are the parts of a business cycle
Peaks, troughs, expansion, recession
Inflation Rate
Previous CPI-This CPI/Previous CPI
What is inflation?
a general increase in prices and fall in the purchasing value of money.
natural rate of unemployment
structural + frictional