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Things to be covered in week 4 tutorial session. 1) What is Aggregate Supply? 2) How is the short run AS curve different form the
Things to be covered in week 4 tutorial session. 1) What is Aggregate Supply? 2) How is the short run AS curve different form the long run 3) Name 4 determinates of AS 4) Show graphically a decrease then an increase in short runt AS 5) Show graphically a decrease and then an increase in long run AS 6) Show graphically a recessionary gap 7) Show graphically an inflationary gap 8) Define the term Unemployment 9) Identify and explain the various types of unemployment 10) What is the work age population? 11) What is the labour force? 12) How do you calculate the labour force participatory rate? 13) What the unemployment rate and what is the formula to calculate it? 14) Who is a discourage worker? 15) What do we mean by full employment or the natural rate of unemployment? Calculations on Unemployment will be in next week tutorial
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