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Free Example of Primary Concerns Essay

There are three major problems that are the subject of the study of macroeconomics: unemployment, inflation, and economic growth. Many economists believe that the range of issues of macroeconomic analysis is much wider (some bring their number to thirty).

There are such concepts as unemployment and inflation in the basis of cyclical fluctuations. The term “inflation” refers to an imbalance of supply and demand, which is manifested in the general rise of prices. However, this does not mean that in a period of inflation all prices are raising. Prices of some goods can grow, while the other prices can be more stable. Different relation of supply and demand and the different elasticity is at the heart of these proportions. There are different types of inflation - an open inflation, moderate, galloping inflation, and hyperinflation, balanced, unbalanced, expected and unexpected one.

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Unemployment is a social and economic phenomenon, when a person cannot find any work at the regular rate of wages. The unemployment rate is the percentage of the unemployed to the labor force, which does not include students, pensioners, prisoners, and adolescents up to 16 years. The overall unemployment rate is the percentage of the unemployed to the total labor force, including those engaged in the active military service. There are several types of unemployment: frictional unemployment and structural unemployment.

Under economic growth the development of the national economy which increases real output (GDP) is understood. Measure of economic growth is the real GDP growth rate in total and per capita. Economic growth is called extensive, if it does not change the average productivity of labor in society. There is a strong growth when GDP growth is outstripping the increase of employment in manufacturing. The intensive growth of the economy is the basis for the growth of welfare and the decreasing differentiation in incomes of various social strata.

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