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MinnieMinnie

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Hi,

Can somebody please explain to me what price stability is?
And what full employment is?

And how are they affected by monetary and fiscal policy

Any help would be appreciated! thank you!
 

Velocifire

Critical Hit
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Price stability in an economy means that the general price level in an economy does not change much over time. In other words, prices neither go up or down; there is no significant degree of inflation or deflation.

Full employment is a situation in which everyone who wants a job can have work hours they need on fair wages. Because people switch jobs, full employment involves a positive stable rate of unemployment.
 

B1andB2

oui oui baguette
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Price stability in an economy means that the general price level in an economy does not change much over time. In other words, prices neither go up or down; there is no significant degree of inflation or deflation.

Full employment is a situation in which everyone who wants a job can have work hours they need on fair wages. Because people switch jobs, full employment involves a positive stable rate of unemployment.
damn, tell me something you don't know!!
 

LoanWoolfq

Member
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in reference to full unemployment, can it be viewed as the nairu, in the sense that there is no 'cyclical' unemployment but there may be structural/frictional?
 

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