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What causes unemployment and inflation and how spending multiplier affects GDP?
Member rating: No Rating | Words: | Submitted: Mon Dec 22 2003
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What causes unemployment and inflation and how spending multiplier affects GDP? Unemployment has always been a problem in our society. The current unemployment rate in Ontario is approximately six percent. This percentage does not usually fluctuate very much, unless there is some dramatic incident that affects the whole economy, like inflation for example. There are numerous causes of unemployment that economists around the world have come up with. However, I will describe the most important ones that are relevant to Canada. The biggest reason for unemployment, not just Canada, but also worldwide, is frictional unemployment. Many people are always to be found in the process of moving from one job to another in order to improve their salary. And frictional unemployment is the delay in movement between jobs. It also applies to young people trying to find their first time job, language disabilities and lack of...
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