EconoMaldives

Content A) Personal Income Money Income and Real Income Types of Personal Income The Distribution of Household Income Income and Wealth Marketable Wealth The Distribution Household of Wealth B) Wages Meaning Types of Wages             C) Wage Differentials Meaning Demand for Labour Supply of Labour Equilibrium Wage Rate Backward Bending Supply Curve of Labour Wage Differentials within an Occupation Wage Differentials between Occupations Wage Differentials between Sectors Mobility of Labour and Wage Differentials D) Trade Unions Aims Types Claiming for Higher Wages How Trade Unions raise wages Government and Wages Transfer Earnings and Economic Rent

The Phillips’ Curve  The Phillips’ Curve is a relationship between unemployment and inflation discovered by Professor A.W. Phillips. The relationship is based on observations he made of unemployment and changes in wage levels from 1861 to 1957. He found that there was a trade-off between unemployment and inflation, so that any attempt by governments to reduce unemployment was likely to lead to increased inflation. The curve sloped down from left to right and seemed to offer policymakers a simple choice - you have to accept inflation or unemployment. You can't lower both. In short the lower the inflation, the higher the unemployment and vice versa.  Kids Products Clothing Footwear Baby Care Toys/Games School Supplies Advantages of Lower Unemployment Full-employment is associated with various advantages. It reduces government spending on unemployment bene

Content  A) Introduction Full Employment  Unemployment  The Rate of Unemployment  The UK Unemployment  B) Types, Causes and Remedies of Unemployment Frictional Unemployment  Structural Unemployment  Seasonal Unemployment  General Unemployment  Unemployment Summary  C) Economic Effects of Unemployment The Phillips’ Curve  Advantages of Lower Unemployment  Disadvantages of Higher Unemployment  Employment Strategies