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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