In the past, it was believed that a trade-off exists between unemployment and inflation that could be capitalised by policy makers (Vera, 205). There has been increasing interest of researchers and practitioners to understand association between inflation and unemployment. Both these indicators are very critical for an economy, hence understanding relationship between them is very critical for policy makers. Unemployment refers to the measure of unemployed people within an economy whereas inflation describes the increase in prices of goods and services in an economy (Scarth, 2011). One of the vital objectives of the macroeconomic policy of a country is to maintain price stability and also economic growth over the long time period. Unemployment and inflation represent important indicators of an economy. I would like to thank my teachers and fellows who have helped me to accomplish this project in time. I would like to pay gratitude to the Almighty God whose kindness and guidance has been a source of light for me throughout my academic career. Through independence of the Bank of England, the economy of UK has been able to tolerate lower inflation with lower unemployment rate. However, the report concludes that this theoretical association is no longer valid in modern economies like that of UK.
With little unemployment, there would be little rise in prices.
This curve revealed that unemployment and inflation are negatively related with each other. In theoretical terms, the Phillips Curve explains the link between unemployment and inflation. This report has focused on analysing the relationship between unemployment and rate of inflation within an economy with specific focus on United Kingdom. Data Processing and Analysis (SPSS, Eviews, Amos).Reality Selling Video Case Problem: Ecolab.Introduction to Management Project on Emaar Properties.Fundamentals of Innovation and Entrepreneurship.E-Marketing Strategy for High TechMovers LLC.The key challenges facing foreign countries entering in UAE.Café Downtown, UAE, Personal Business Plan.Personal Business Plan -Market Positioning Statement:.
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