Search for over 100,000 study notes and past assignments!
Download study resources by swapping your own or buying Exchange Credits.
18 Pages • Essays / Projects • Year: Pre-2018
eg. Question 19 Explain what is meant by frictional unemployment. Is it likely to be desirable for an economy to have zero frictional unemployment? Explain. Frictional unemployment is the short-term unemployment associated with the process of workers searching for the right job. It is unlikely to be desirable for an economy to have zero frictional unemployment because frictional unemployment can be beneficial to the economy. -Costs of frictional unemployment are low and may even be negative -Search process leads to better fit between worker and job, leading to higher output over the long run Question 20 Explain what is meant by substitution bias in the CPI and indicate whether it is likely to cause the CPI to overstate or understate changes in the cost of living. Substitution bias: use of fixed basket of goods means that there is no allowance made for consumers’ substitution toward relatively less expensive goods. This bias causes measured inflation to overstate changes in the cost of living.
This document is 20 Exchange Credits
More about this document:
This document has been hand checked
Every document on Thinkswap has been carefully hand checked to make sure it's correctly described and categorised. No more browsing through piles of irrelevant study resources.
This is an Essay / Project
Essays / Projects are typically greater than 5 pages in length and are assessments that have been previously submitted by a student for academic grading.
What are Exchange Credits?
Exchange Credits represent the worth of each document on Thinkswap. In exchange for uploading documents you will receive Exchange Credits. These credits can then be used to download other documents for free.
We want you to be satisfied with your learning, that’s why all documents on Thinkswap are covered by our Satisfaction Guarantee. If a document is not of an acceptable quality or the document was incorrectly described or categorised, we will provide a full refund of Exchange Credits so that you can get another document. For more information please read Thinkswap's Satisfaction Guarantee.
Studying with Academic Integrity
Studying from past student work is an amazing way to learn and research, however you must always act with academic integrity.
This document is the prior work of another student and has been made available to plagiarism detection tools. Do not copy from this work. Understand how you can responsibly use this work by visiting ‘Using Thinkswap resources correctly’.
Claim a Bounty
Similar documents to "Tutorial test question pool answer" avaliable on Thinkswap
Documents similar to "Tutorial test question pool answer" are suggested based on similar topic fingerprints from a variety of other Thinkswap Subjects