Lecture Economics of social issues - Chapter 13: Unemployment and inflation: Can we find a balance?
Lecture Economics of social issues - Chapter 13: Unemployment and inflation: Can we find a balance?
In this chapter we explored the two most important problems that market economies face unemployment and inflation. Economists have devised specific definitions and specialized tools to define and measure both unemployment and inflation. Policymakers keep close watch on both because of their negative effects on society's standard of living.