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SEASONAL UNEMPLOYMENT: Unemployment is caused by relatively regular and predictable declines in particular industries or occupations over the course of a year, often corresponding with the seasons. Unlike cyclical unemployment, that could occur at any time, seasonal unemployment is an essential part of many jobs. For example, your regular, run-of-the-mill, department store Santa Clause can count on 11 months of unemployment each year. Seasonal unemployment is one of four unemployment sources. The other three are cyclical unemployment, frictional unemployment, and structural unemployment.
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Lesson 16: Aggregate Shocks | Unit 2: Extension
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Page: 6 of 21
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- The different determinant induced shifts of the AD, LRAS, and SRAS curves.
- A few of the more important determinants that shift the AD, LRAS, and SRAS curves.
- How specific real-world issues, such as increases in physical wealth, changes in monetary policy, technological advances, and wage changes, create instability in the macroeconomy.
- How the self-correction mechanism works through wage-changes and the labor market to restore the long-run equilibrium.
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MARGINAL ANALYSIS A basic technique used in economics that analyzes small, incremental changes in key variables. Marginal analysis is the primary analytical approached used in the study of markets, production, consumption, business cycles, and economic policies. It not only reflects how most economic decisions are made, it also lends itself to mathematical and graphical analysis.
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The penny is the only coin minted by the U.S. government in which the "face" on the head looks to the right. All others face left.
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"You have to find something that you love enough to be able to take risks, jump over the hurdles and break through the brick walls that are always going to be placed in front of you. If you don't have that kind of feeling for what it is you're doing, you'll stop at the first giant hurdle. " -- George Lucas
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FV
Face Value
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