MGEA06H3 Lecture Notes - National Research Universal Reactor, Employment-To-Population Ratio, Gdp Deflator

• School: UTSC
• Department: Economics for Management Studies
• Course: MGEA06H3
• Professor: Iris Au

Document Summary

Outline: what is macroeconomics, unemployment unemployment rate & labour force participation rate, inflation cpi & gdp deflator www. notesolution. com. We need a different way than microeconomics to look at aggregate behaviour. Keep in mind that all behaviour has to have a root in micro: in macroeconomics, we look at the things like: national income, level of unemployment, inflation rate, the exchange rate, etc. www. notesolution. com (cid:222) Labour force (lf) = # of employed + # of unemployed. Unemployment rate (ur) = the percentage of the labour force that is unemployed: www. notesolution. com. Employment rate = the percentage of adult population that is employed: The labour-force participation rate (lfpr) = the percentage of adult population that is in the labour force: let"s look at some data, observations: Unemployment rate is never negative or zero. Manitoba has the lowest ur while newfoundland & labrador has the highest. www. notesolution. com.