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Full employment is an economic situation in which there is no cyclical or deficient-demand unemployment. [1] Full employment does not entail the disappearance of all unemployment, as other kinds of unemployment, namely structural and frictional, may remain. For instance, workers who are "between jobs" for short periods of time as they search ...
Globalization is primarily an economic process of interaction and integration that is associated with social and cultural aspects. However, disputes and international diplomacy are also large parts of the history of globalization, and of modern globalization. Economically, globalization involves goods, services, data, technology, and the ...
Technology, society and life or technology and culture refers to the inter-dependency, co-dependence, co-influence, and co-production of technology and society upon one another. Evidence for this synergy has been found since humanity first started using simple tools. The inter-relationship has continued as modern technologies such as the ...
It is the increasing economic integration and interdependence of national, regional, and local economies across the world through an intensification of cross-border movement of goods, services, technologies and capital. [2] Economic globalization primarily comprises the globalization of production, finance, markets, technology, organizational ...
The digital economy is a portmanteau of digital computing and economy, and is an umbrella term that describes how traditional brick-and-mortar economic activities (production, distribution, trade) are being transformed by the Internet and World Wide Web technologies. [1][2] The digital economy is backed by the spread of information and ...
The Meaning and Three Conditions of Full Employment. Section 2. The First Condition: Adequate Total Outlay. Section 3. The Second Condition: Controlled Location of Industry. Section 4. The Third Condition: Organized Mobility of Labour. "return to the old ways of engaging labour should be definitely made impossible.
Non-accelerating inflation rate of unemployment (NAIRU) [1] is a theoretical level of unemployment below which inflation would be expected to rise. [2] It was first introduced as NIRU (non-inflationary rate of unemployment) by Franco Modigliani and Lucas Papademos in 1975, as an improvement over the "natural rate of unemployment" concept, [3] [4] [5] which was proposed earlier by Milton Friedman.
t. e. Real business-cycle theory (RBC theory) is a class of new classical macroeconomics models in which business-cycle fluctuations are accounted for by real (in contrast to nominal) shocks. [1] Unlike other leading theories of the business cycle, [citation needed] RBC theory sees business cycle fluctuations as the efficient response to ...