Theme 13. Unemployment and inflation are both manifestations of economic instability презентация

work at the regular rate of wages.
Unemployment rate - the percentage of the unemployed to the labor force, which does not include: students, pensioners, prisoners, and boys and girls up to 16 years.
The overall unemployment rate - the percentage of the unemployed to the total labor force, including those engaged in active military service.

are not on welfare, in shelters, nursing homes, etc.
Full employment does not mean complete absence of unemployment.
Natural rate of unemployment - a set of frictional and structural unemployment and the unemployment rate is associated with a stable economy, when the real national product is at the natural rate, and lacks both slowing and accelerating inflation or when the expected rate of inflation is equal to the actual level of inflation.

Law of Oaken

amount of GDP less than that which would be at full employment. The difference between potential output at full employment GDP and actually achieved in cyclical unemployment GDP is GDP gap.
The Law of Oaken expresses the relationship between the level of unemployment or lost in GDP. If the actual unemployment rate exceeds the natural rate of 1%, the gap in GDP of approximately 2.5%. This ratio (1:2.5) allows us to calculate the absolute loss associated with any level of unemployment.

for the reduction of unemployment.

relation to goods, services and foreign currency, preserving the stability of its purchasing power.