This type of unemployment is made up of structural, seasonal and frictional.
What is the NRU?
100
This measure of inflation strips out volatile energy and food prices to more accurately track true inflation
What is core CPI?
100
Give an account of similarities and differences between two (or more) items or situations, referring to both (all) of them throughout.
What is compare and contrast?
200
GNI per capita is a better indicator than GDP per capita.
What is because GNI represents the income attributable to the people of that country?
200
This model assumes that wages and prices are flexible in the long run
What is New Classical model?
200
This type of unemployment should be illustrated (at least in part) using a business cycle diagram
What is cyclical unemployment?
200
This measure tracks the wholesale prices that producers pay
What is PPI Producer Price Index?
200
Offer a considered and balanced review that includes a range of arguments, factors or hypotheses. Opinions or conclusions should be presented clearly and supported by appropriate evidence.
What is Discuss?
300
Other than a GDP deflator, what are 2 other ways to adjust for price level changes?
What are the CPI and the PPI?
300
This model sees little role for demand side policies
What is the New Classical model?
300
These 2 types of unemployment are hard to correct with demand side policies:
What are structural and seasonal U?
300
CPI attempts to track price levels over time by assembling this
What is a representative basket of goods.
300
Make clear the differences between two or more concepts or items.
What is distinguish?
400
Core CPI
What is the CPI minus volatile energy and food prices?
400
Stagflation, or the combination of inflation and recession is best shown by moving this curve in this model.
What is the SRAS curve shifts to the left in the new classical model?
400
The unemployment rate is calculated by dividing this by the population of unemployed people by this.
What is the total labor force?
400
This type of inflation can be caused by a supply side shock, for example a quick increase in the price of oil.
What is cost push inflation?
400
Consider an argument or concept in a way that uncovers the assumptions and interrelationships of the issue.
What is examine?
500
A persistent increase in average price levels.
What is the formal, complete and correct definition for inflation?
500
This type of unemployment can be considered healthy, as it shows a dynamic and changing economy. It may result from increased automation for example.
What is structural U?
500
A continued cycle of deflation can lead to this
What is a deflationary spiral?
500
Consider the merits or otherwise of an argument or concept. Opinions and conclusions should be presented clearly and supported with appropriate evidence and sound argument.