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Explain the costs of unemployment How is unemployment measured in UK and why this is not an accurate measure

1. (a) Explain the costs of unemployment.

 

(b) How is unemployment measured in UK, and why this is not an accurate measure? (1000 words)

 

 

2. Draw a Production Possibility Frontier PPF and explain the reasons behind its shape? Use data of your own and demonstrate how opportunity cost is measured along PPF. (1000 words))

 

 

3. (a) Explain what is meant by inflation and deflation, clearly distinguish between

the two terms.

 

(b) Explain the problems associated with inflation. (1000 words)

 

 

 

4. a) Explain the process of economic growth and ways by which countries can achieve it.

 

b) Discuss: The pursuit of economic growth is not in people’s long-term interests. (1000 words)

 

Guidelines:

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LSC/SBL– Resit Assignment  DF 1, 2 Introduction to Economics  Due Date  Monday 3rd November 2014 @ 23.59 No late submissions will be MarkedInstructions: a) Pay a resit fee to the Accounts Department b) Submit via Turnitin to the resit link for the above module – you cannot do this if you have not paid your resit fee c) YOU MUST NOT EXCEED 15% SIMILARITY IN THIS ASSIGNMENT  Answer the following Four (4) questions. 1. (a) Explain the costs of unemployment. (b) How is unemployment measured in UK, and why this is not an accurate measure? (1000 words) 2. Draw a Production Possibility Frontier PPF and explain the reasons behind its shape? Use data of your own and demonstrate how opportunity cost is measured along PPF. (1000 words)) 3. (a) Explain what is meant by inflation and deflation, clearly distinguish between the two terms. (b) Explain the problems associated with inflation. (1000 words) 4. a) Explain the process of economic growth and ways by which countries can achieve it. b) Discuss: The pursuit of economic growth is not in people’s long-term interests. (1000 words) Guidelines: A thorough literature review on topics must be evident. Suitable organisational examples need to be given. These examples should be real-life business situations that illustrate the concepts of the subject. Harvard style of referencing should be used; in-text and attach a list of all references. Report format should be used. Pay attention to the rules of writing in relation to paragraphing, punctuation, spelling, etc. Use headings for sections of your report where appropriate. Attach a reference and bibliography list of all your sources Word Limit: 4000 Words for the whole assignment – excluding appendices and bibliography The Harvard Style of Referencing system is COMPULSORY. Indicate the sources of...

May 01 2020 View more View Less

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