Structural unemployment, Unemployment caused by a decline in a certain industry. E.g. UK vehicle production., Frictional unemployment, Short term unemployment where a person moves from one job to another. This can take up to eight weeks., Inflation, A general and persistent rise in prices over a period of time., Cost push inflation, An increase in cost of production will cause firms to increase prices to prevent loss of profit., Current account, This is the difference between exports and imports and net income from abroad., Balance of trade, This is the difference between exports and imports.

Macroeconomic objectives

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