unemployment rate
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# of unemployed / the labor force
Negative Externalities
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; too much is produced
;EX. pollution, not everyone does it, not everyone wants it
GPD is divided into 4 TYPES of Expenditures
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1. Consumption (LARGEST)
2.Investment
3. Gov. Spending
4. Net Exports (exports-imports)
Positive Externalities
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; too little is produced
; EX. equation, higher education levels creates more positive lifestyle and
life outcomes; numerous benefits; more likely to be involved in the
community, be an informed voter. Encourage more people to go to school
by inducing free or reduced costs so that you can get a higher education.
For younger education systems offer bussing, free enrollment , etc.
Cyclical unemployment (demand-deficient unemployment)
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unemployment that results from fluctuations in the economy
;goes up and down with the business cycle
;recession is considered this type of unemployment
Equilibrium
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, when Q suppled = Q demanded and prices have no tendency to chance ;
BALANCE
Partnership
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the ability to share the works and risks of business
Value Added
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the market value of a firm's output + market value of the firms input
NDP Equation
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GDP - depreciation
Recession
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# of unemployed / the labor force
Negative Externalities
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; too much is produced
;EX. pollution, not everyone does it, not everyone wants it
GPD is divided into 4 TYPES of Expenditures
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1. Consumption (LARGEST)
2.Investment
3. Gov. Spending
4. Net Exports (exports-imports)
Positive Externalities
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; too little is produced
; EX. equation, higher education levels creates more positive lifestyle and
life outcomes; numerous benefits; more likely to be involved in the
community, be an informed voter. Encourage more people to go to school
by inducing free or reduced costs so that you can get a higher education.
For younger education systems offer bussing, free enrollment , etc.
Cyclical unemployment (demand-deficient unemployment)
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unemployment that results from fluctuations in the economy
;goes up and down with the business cycle
;recession is considered this type of unemployment
Equilibrium
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, when Q suppled = Q demanded and prices have no tendency to chance ;
BALANCE
Partnership
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the ability to share the works and risks of business
Value Added
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the market value of a firm's output + market value of the firms input
NDP Equation
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GDP - depreciation
Recession
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