The Costs Of Unemployment

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)