Frictional Unemployment: Definition, Causes & Examples
Frictional unemployment occurs in the period between leaving one job and joining another.
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Macroeconomics
The branch of economics that looks at the economy as a whole. It looks at factors which affect the wider economy rather than individuals. Examples include inflation, trade, unemployment, and economic growth.
3 Tools of Monetary Policy
There are three main tools of monetary policy – open market operations, reserve requirements, and the discount rate. These are decided by central banks such as the Federal Reserve.
3 Types of Fiscal Policy
There are three types of fiscal policy; neutral, expansionary, and contractionary.
Exchange Rate: Definition, Causes, Effects & Types
An exchange rate is the value by which two currencies are swapped with each other.
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Budget Deficit: Definition, Causes & Effects
A budget deficit is where we spend more than we receive.
Comparative Advantage: Definition, How to Calculate & Examples
When one nation is more efficient at producing a good than another. However,
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Central Bank: Definition, Objectives & Functions
A central bank controls the supply of money as well as how it reaches the consumer.
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Dependency Ratio: Definition, Formula, Effects & Example
The dependency ratio is the percentage of children and those over 64 years old, compared to the people who are of working age.
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Real GDP: Definition & How to Calculate
Real GDP is Gross Domestic Product (GDP) that accounts for inflation or deflation.
Budget Surplus: Definition, Pros, Cons & Effects
A budget surplus is where government brings in more money than it spends.
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